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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Seeker of Truth who wrote (43183)	12/13/2003 12:38:38 PM
From: macavity	Read Replies (1) \| Respond to of 74559

Chartism. There are many types of TA. Categories them by 2 sorts. 1) anticipatory/predictive - saying where things will go. 2) reactive - going with the flow. I follow the 2nd, but know there are many successfuls that do the following. You have forgotten that the idea is not to predict, but here is the catch - to make money. It has also been shown that you can make money in a wholly random market. How? You cut your losses quicker than you cut your winners. So the true secret is money management. What TA does is provide you with references that tell you when to leave the party. I am more of the sort if Event A then look for B. If B, then execute C. Event A: Took out Nov2003 and Q32003 highs! This makes me bullish on weekly and monthly charts, i.e. I look for buy signals after a pullback. Could be wrong, but that is what stops are for! :0) -macavity There is an eMini for NatGas - symbol QG - I do not get intraday data which is a relief, so I will have to watch it