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

To: KymarFye who wrote (64257)	12/14/2000 1:38:07 PM
From: eichler	Read Replies (2) \| Respond to of 99985

Kymar, Great post, again. I think it is important and valid to trade within one's comfort zone. Pattern recognition and personal tendencies are key. Waiting for long set-ups, playing for short term profits (long) can certainly be profitable. Marrying long positions since March however has been for the most part, deadly. If one is not comfortable shorting, I agree it probably should not be part of one's repertoire. Nearly every trade I have ever made has been in the red for at least a short time. Exiting every position when price moves against you should guarantee a very consistent and long line of losing trades. Comfort and Confidence are a big part of making a winning trade. Perhaps a product of my chess learning, I personally have endeavored on improving my overall game (stock market). Part of my strategy development includes examining and improving the weakest part of my game, working on it until the weakness becomes strength, then turning attention to the next weakest point. For me, shorting was not only the weakest part of my game, it was non-existent. Now, I follow short interest, COT, insider selling, EWT(just learning), Rydex.... In short, my game is now more rounded, balanced. My bad habit of preferring the long side is being cured! Preferring is favoring is not being objective. It is impossible to be open if not objective. If one is not open to the market's fickleness, how can one really react in a timely manner to insure profits? This game is far more complicated than chess, and there are many aspects to work on. Since I can only give myself credit for maybe 8-9 months of truly serious study, I figure I should achieve in my eyes Master level in trading in several more years! It is that hard. That old adage "the more your know, the more you realize how little you know" is quite true IMO. I have a great deal more compassion now for all level of traders. I feel I have made great strides in improving my game, and my purpose in posting here is to share observations which may be helpful to others determining market direction. Since, most of my trading knowledge has been acquired here on S.I., especially MDD, I think it's only fair to reciprocate. If I find my observations are not useful, I will stop posting. Hopefully, that will not become the case. Best regards, Eichler