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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: ivan solotaroff who wrote (10212)	1/7/1998 5:26:00 PM
From: Esteban	Read Replies (1) \| Respond to of 79231

Ivan, Re: I don't practice what I preach, but I'm learning the sermon pretty well by now. You played SGI purrfectly. You made a gutsy move on OXHP which may still work out stunningly or has possibly already given you a profit. On neither of these did you break the rules. We're trying to develop a systematic method of trading PGDCEBs. If you just try to guess tops or bottoms, you've got nothing to build on for the next time. There's always reason after reason that the top should have been the top that it was. We tend to look at a price top on the chart after it has occurred and reason why it occurred at that point. What we fail to do is look at all the other places on the chart that were tops before the price continued to rise and realize that these also should have been tops. Pat yourself on the back for exiting when the system said exit. You never had 30%. You had zero until you closed the trade. Now if you were using an exit strategy based on a fixed 10% gain and sell on any slight weakness after that, you broke your rules. I'll get off the pulpit now. Esteban