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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: TechTrader42 who wrote (11056)	1/28/2001 10:13:16 PM
From: Monty Lenard	Respond to of 12039

"I'd hazard a guess that they had the added burden of over-confidence." Well that will cook your goose everytime. When oscillators aren't working or anything else for that matter one best recognize it fast and get back to basics. That is why I try to keep it simple. If I make it complicated I lose perspective. I can't see the forest for all the trees. I don't mean to say it is not ok to experiment. I like fooling with different stuff as well as the next person but when it gets down to the nitty gritty I have a few simple tools that WORK! It is kinda like fishing lures. There are crankbaits, spinnerbaits, topwaters, falling lures for suspended fish, etc etc. And on top of that they all come in 25 different colors to catch more FISHERMEN. What happens is one spends more time tying on lures than they do fishing and the only way you catch a fish is to keep your bait in the water. I can catch fish on any lake on any day with about 4 lures. The others I wasted my money on and just confuse me. "Oh, I know. I need to tie on the Super Duper Whing Ding." So I tie on the Super Duper Whing Ding (that I have never in my life caught a fish on)and spend all my time wondering if I should be fishing with something else. That causes me to make a poor presentation and not fish the lure properly...with confidence. When really all I need to do is tie on the lure that I KNOW CATCHES FISH day in and day out. The old standby, the one that is old hat, the one that no one wants to fool with anymore because it is not the latest and greatest. I know how to fish that lure because I have fished it for soooo long. I know how to present it and where to cast it and how to retrieve it. It is all second nature... I know how it acts. I don't have to concentrate on the pure mechanics of presentation. I can watch the water and THINK about what is going on around me ... the whole time fishing my lure properly. So I am glad I don't have the "Holy Grail" Pay Tribute & Attention To Richard scan. Monty