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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Cheeky Kid who wrote (107593)	3/8/2008 6:16:58 PM
From: rubbersoul	Read Replies (2) \| Respond to of 312313

<T/A is a scam, if it worked everyone would be rich. Where was the warnings about the major corrections?> Actually, I'm a subscriber of Richard Russel and he used his technical analysis and market wisdom to warn his subscribers to be cautious before the August meltdown and before the recent November correction which were both major drops.<FWIW> <If my gut says the stock is over valued I dump it.> Intuition is underrated but an intuitive trader would probably fair much better geared with TA, IMO. <Lots of the stocks you buy and sell are based on good timing and luck. T/A in my opinion has little to do with it.> Luck has something to do with it but this ain't a lottery. Even a casino isn't a lottery for a good poker player. I'm not sure if you follow some of the excellent TA men on SI such as SwampDogg, valutrader, and some others, but after a while you may start to realize that TA is relevant and effective (if applied correctly). Why are people so freaked out by Swamps "100 bagger" comment, lol! It may happen, it may not. His contributions to these threads are so much more than "100 bagger" hype.

To: Cheeky Kid who wrote (107593)	3/8/2008 8:42:46 PM
From: Little Joe	Respond to of 312313

That is like saying fundamental anslysis is a scam because if it worked everyone would do it. TA is not a scam, it is just not as easy as it sounds. I have been at it a long time. I just wish I knew what I know now years and dollars ago. Fact is most people lose some money in the market and give up. They never get good at analysis, because it takes years. Another factor is that some people because of their personalities will never be good because they are blinded by their emotions. I see it on the board all the time. A mind set developes and then it becomes sort of like a political positio, defend it all costs regardless of the reality. Good traders are slow to commit their money and quick to admit they were wrong. That is how you hang onto capital long enough to get the winners. Watch ISO he is in and out always looking for a profit. He usually uses stops - doesn't take big losses. That is the best advice I can give you about trading. Accept your losses, they are like pain-they tell you when something is wrong. Little joe

To: Cheeky Kid who wrote (107593)	3/8/2008 11:17:15 PM
From: SwampDogg	Read Replies (1) \| Respond to of 312313

<<Where was the warnings about the major corrections?>. Name a correction and I will tell you. Part of being good is learing from history...looking for the warnings. KIS A kid with a crayon...take a power trend and draw a line with a ruler. If it breaks it is a big warning. In the tech market it would have got you out with little pain. Here is an easy example. break of $45.89 was telling one to get the heck out of Dodge. TA was the only way of telling that there was something very very wrong. stockcharts.com