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Strategies & Market Trends : trading the QQQ -- Ignore unavailable to you. Want to Upgrade?

To: bernard rogers who wrote (441)	3/4/2002 9:03:53 AM
From: hypostomus	Read Replies (1) \| Respond to of 714

Sounds like a plan. What is your thinking about what constitutes a high percentage setup? While I personally believe that trading with the trend is the best strategy, you might keep stewing in the background the possibility of developing a countertrend trading strategy. From a psychological point of view, I believe you can take two different approaches to trading. The one I prefer, and am following, is to let trading a system teach you what your character flaws are, in the hope that you so sincerely want to make a living at trading that you will be motivated to change. However, there is another way, I believe. In NLP there is a strategy called "What can you do with a problem like that?" What it means is to embrace your damaged psyche and put it to work for you. In my case, I am so cynical and negative that I believe nothing. At the moment I choose to work on that. If I fail, then I might choose to put that warped view to work countertrend trading. An example would be identifying daily extremes and betting against them. In our time frame, I find that a +/- 1.4% envelope around a 75ma is a fair indicator. Just a perverse thought.