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To: rmontieth who wrote (5239)	1/7/2001 12:17:13 AM
From: Michael Watkins	Respond to of 8925

'clone of Teresa' nah, she is much better looking! :)

To: rmontieth who wrote (5239)	1/7/2001 10:28:27 PM
From: Ally	Respond to of 8925

Hi Rick, I found your comment about on looking back and not seeing the opportunities before very interesting, 'cause I also looked back at my past trades and couldn't believe the entry and exit points I made in the past... just horrid..and had me mumbling to my self..."what was I thinking!!" Like you, I've read all T's materials and bought a chunk of books to read. Since the class in Dec, I've only completed 3 trades - shorted RIMM twice on retracements, went long on GX, and closed all of the 3 trades with wins. For now, I'm only focusing on retracements, and Vic 123 reversals. GX was a classic Vic 123 reversal which I happened to spot early. I'm trying to keep it simple and follow what T said in class... one can do very well just on tests and retracements. I'm finding that many TA discussions on SI are a lot of noise from people who have not taken the time to study TA, or are hyping guru status, or are based on some isoteric, complex theories which I don't understand. That's why I thought it would be nice to have a group of people who have a passion and T's approach on chart analysis, and take it from there. I believe such a group can help each other to excel in reading trends, and identifying failed tests. "Focus on honing one's trading skills and the money will follow" is the common comment when I read Toni Turner's book, and in Schwager's two Wizards books. Of course there are 2 other elements... money management, and emotions management.. which probably a group will not be able to address. But at least, with a group, we can address the technical aspects of chart reading i.e. identifying failed tests. I think chapter 11 of Schwager's book "Getting Started in Technical Analysis" is a MUST read for all T's graduates. The chapter is on failed tests. Trends are easy to read... but not failed tests: bull and bear traps, false breakouts, filled gaps etc. It is in this area that I think a group would be of great help. So, if someone is getting excited about a "breakout", another could say like "except that it may be a bear trap", or "wait and see should the gap be filled." Anyway, that's my main thought on this matter.... a club of people that has undergone a common approach of TA studies to outline their trades and explain what they see. That's why I like T's approach... there is no magic pill... just honing one's skills and be protected by stops. BTW, I've been posting my trades last week on bobby's sleepless in seattle thread. Message 15139688 Susan and Bobby appear to be doing TA analysis same as T, and they are quite active posting their thoughts. I may start my own thread if i could get a small group of people interested in serious chart reading first, and trading secondary. I would prefer to use SI simply because its very convenient to use the SI charts and also to do basic research here without jumping one site to another. BTW, on Friday morning, I went long on PFE from GX proceeds. It's my only trade outstanding at this time.