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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Vitas who wrote (25555)	9/11/1999 9:00:00 PM
From: Vitas	Respond to of 99985

"Vitas, Excellent article. I would add 2 things. 1. Losing traders are always looking for the "unusual circumstance" to happen in order to make a buck. Successful traders understand that the unusual circumstance is not predictable & therefore to be left to other traders with more information/guts/or stupidity. Conclusion: Losing traders "itch to get in", while successful traders are perfectly content to play the role of spectator when weird/unusual events occur. 2. Losing traders do not understand the importance of knowing the probabilities regarding market movement. Successful traders manage their exposed risk by reducing their exposure when the probability of success is reduced. Conclusion: Losing traders almost always trade in a similar magnitude. Successful traders adjust the amount of exposure they have relative to the probability of success for each trade, and are always willing to forego potential gains in order to preserve capital. Barry You may post the above if you wish." an e-mail from outside - I will post replies from Barry to posts directed to him V