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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (27119)	1/7/2002 2:14:28 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 52237

Great response but I feel that WHAT you trade can make a huge difference. You end with don't predict. While in SPOOs and common stock I would agree, I trade mostly options and predicting can be very profitable as you are buying when premiums are on the other side of the trade. Waiting until the price is going your way can leave half the profits on the table when trading short term. Buying puts during a strong rally enables you to steal them as they are selling at any cost and like wise buying calls in a collapse also can bear huge rewards if you "predict" and play the price of the expected turn. I also feel that having price targets can be very important, especially when shorting calls. If you feel you are in a bear market, then selling a strike price just above the fib target of a bounce can let you reap rewards and not have to cover the trade. Thanks thorough response as I said, you comments are very valid for futures and common stock. I guess it is as in everything else a matter of style and personal experience. I know E-wavers care a lot about what the primary direction is as it aids them in labeling their counts. Good Luck, Lee

To: Robert Graham who wrote (27119)	1/7/2002 2:28:27 AM
From: eddieww	Respond to of 52237

"Do not try to predict. Anticipate price action..." Excuse me? Perhaps you would be good enough to explain this apparent dichotomy?

To: Robert Graham who wrote (27119)	1/7/2002 10:18:38 AM
From: Debra Orlow	Read Replies (1) \| Respond to of 52237

Mr Graham, BRAVO!!!! Excellent post. In my trading education, I am somewhere in between having the discipline to follow my trading system and knowing when not to take a trade. I do hope that will come with experience, but there seems to be such a fine line between having such a strict discipline to my system and then going against that very discipline. One thing that I have learned.....any concept of what you think will happen is best avoided. Trust in your trading system is much more important than any predictive nature that anyone might think that that have. And backtesting is the best road to that trust. IMHO, Debra