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To: ams who wrote (1598)	12/7/1997 3:32:00 PM
From: Richard Estes	Respond to of 12617

There is not much new in either book. The setups are helpful for the short term trader. Having someone's ideas presented in a good form can be worth 1/8 to 1/4 point on a thousand shares. I do not believe or has anyone ever shown me evidence that systems fail because of use. I would imagine 99% of SI members haven't read either book. But if we reversed it and said they had, they would not change the results of a stock movement in a high float stock. If we see a system produce losses, that is natural, the idea is to produce small losses and big wins. Both books are short on one major item - Exits. They leave you on your own, their entries are based on rational setups but exits are where money is made. Neither say sell a winner at the end of the day just loosers.

To: ams who wrote (1598)	12/7/1997 4:17:00 PM
From: Kris	Respond to of 12617

Thanks for the book opinions. Are there any that you highly recommend? I've wasted money on a lot, but found Elder's book a treasure trove. Three years, you say??? I set up a $10,000 learning account to see if I could do this. So far, not good, mainly because early on I got mesmerized, like a deer in the headlights, watching a Chinese stock, Jilin Petrochemical, drop down three points a day. Ugh. Doing a little better now, but all my exits stink--too early, too late--whatever it takes to tread water. But I guess even that is progress, better than losing anyway. Kris