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Strategies & Market Trends : Technical Analysis - Beginners

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To: Dick Brown who wrote (9273)	2/13/1999 11:57:00 AM
From: Richard Estes	Read Replies (2) of 12039

Your example of exits could be put into a system format. With QP2, your scans could spell out "sell at 23.25" as an example. Why do you sell early? Do you follow your plan? If you do, you might change plan. If you don't, you might look at the plan's results. In building a plan or system, we simply say if this or this happens, I buy. When this or this happens I sell. Then you test to see how using the plan in the past pays off. If you find that it does well on many stocks and does not hurt you BAD on any of them. You might should trust it and use it. Without a plan, you have 100s of indicators/chart patterns bombarding you with sometimes conflicting information. Your emotions determine actions, not you previously logical structure to the plan. This allows your emotions to pick and choose actions to take. A good system followed, rarely hurts you. Very complex systems can be built in MSWIN 6.52 feed by QP2 scans, much better than the near past ones. When you turn to the short term trades, RT data is needed to develop trusted systems. The RT can be fed from the EOD results.

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