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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: ratan lal who wrote (1676)	12/9/1997 12:26:00 PM
From: Ira Player	Respond to of 12617

I, unfortunately, used the terms capriciously. What I intended to say is the rules of engagement change with the direction of the trend one "perspective" level above the one you are trading. Going in the order of my investment interests. When I first started saving toward investing, I placed the money in mutual funds, watching the overall markets and moving to cash during intermediate downturns. This worked reasonably well. When I moved to individual stocks (in an IRA and therefore limited to long positions). I only went long when the overall market was in an upward trend and the stock of interest went positive. When I moved to short term trading, I only enter long when the intermediate trend is up. (note that the long term trend may still be down, with the intermediate "correcting" upward.) Now that I am beginning to dabble in the day trading game, (While the outcome is serious, it is still a game to those who truly enjoy it. If you are good enough to be in it and succeed and don't enjoy it, I feel sorry for your lack of appreciation!!<g>) I live within the rule that I will only go long on a stock that is short term up, and will short when short term is down. The terms Bulls and Bears terms are misleading, I believe. At any point in time both exist in the market, somewhere and at varying strength. Our job is to determine which is in control of a particular issue, at this particular time. Enjoy the ride. Ira