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

To: Catman who wrote (33393)	3/27/2002 6:37:43 PM
From: sean sanders	Read Replies (1) \| Respond to of 52237

I think being bias about the market is how people make calls one way or another and this in turn means putting those calls to work with cash. I also feel as you suggested one needs to be open to changes since the market is a ever changing environment. I like to think of the 'strict' rules of T.A. as an art form. The rules can change anytime; they can be bent even to suit their needs. I'm not suggesting that one change their own trading rules; this is a different story, I'm speaking about the T.A. rules etc ... as far as peddleing information; I also agree with that. Personally I often post my picks or trades because I want to get feedback on what I missed or what I saw that someone agrees with. oh one thing ... personally I like to try to call tops and bottoms; not for the ego boost (I dont think I have an ego left my girlfriend does a good job at keeping it in check <g>). From what I recall I have made the most money playing off tops or bottoms; although I have lost a bunch too when I have been wrong. Sean

To: Catman who wrote (33393)	3/27/2002 8:28:25 PM
From: Lee Lichterman III	Respond to of 52237

Catman - I guess here we go again? -ggg- As on our site, I have to partially disagree. I think it depends on your situation and your own trading style. For someone like you that does this for a living and have become accustomed to it, day trading is good for you. Others like me that can't sit in front of the screen every day have to take what we can. In my own trading, I have found that I tend to do better when I don't over trade. I went from a few hundred trades in 2000 to around 50 in 2001 and had one of my best years ever. In studying my habits, I found that once I had hit a string of winners, I was rushing to get another trade on and thus reduced my trading significantly and it paid off. Now that may just be me but from speaking with others that have day time jobs, they seem to have found the same thing out. I also believe you have to adapt to the market that is given to you and in that I agree with you. You state that you treat each day as a new one and start fresh thus you are adapting to the day's movements. Myself, I have found so far this year that I have to speed up my trading a bit from last year's pace and not hold positions as long since the ripples are smaller and faster. I was holding for a week or more last year and this year I am averaging around 2-5 days with it probably being closer to 2-3 most times. ( I had a few long ones that are skewing my average right now since we are only 3 months into the year) You said, "Why bias myself into thinking the market should go one way, only to watch it go another?" I think you should have a plan for any direction as you state however if you have a feel from the TA or FA that a certain sector is weak and one is strong, you can have picks already in place for either direction of overall market movement so you aren't scrambling to find a play when a turn occurs. I like to have a plate of longs and shorts and spend my weekend making my picks for the week based on their charts and some DD to make sure I am not shorting a 5 PE stock with 100% growth rate or buying a real dog infested with fleas. I then tend to stick with those picks the rest of the week and usually can play both longs and shorts in the same week. Besides, as we have gone around and around about on our site, I still feel that FA is a determining factor in the end but TA rules the short term. The internet bubble proved it, Warren Buffet has proved it etc etc. FA plays can be good plays when one averages in and picks entries with the aid of TA for longer term buy and hold plays both long and short. I know from our previous discussions that you are purely a TA based, Momentum style day trader so for you FA means nothing. To those of us that will hold a position for a while though, I still feel it is a necessary evil. -gggg- I also feel that if one can't watch every tick of the market, then one might be better off looking for a slower trading style of days, weeks or even months when market conditions allow it. A look at weekly charts show that swing trades can make nice trades on a slower basis if you identify the medium term trend and go with it. When trading options, it also can be advantageous to identify a change in trend before it occurs to get the added kick of a premium swing. Good Luck, Lee