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To: Richard Estes who wrote (2388)	1/13/1998 1:10:00 PM
From: TFF	Read Replies (1) \| Respond to of 12617

Richard>>>>If you used patterns like cooper or Rashke/Conners, I understand that. If you bought and sold on an indicator, I would understand that. If your list was filtered down to stocks in a postion to give you good follow thru, I would understand that. All of these systems has been discussed extensively on this thread. I can't understand it when you say you "can't find any details". Maybe you should spend some time reading older posts. Personally I like to keep things moving forward on this thread so I hesitate to revisit subjects that have been previously discussed.

To: Richard Estes who wrote (2388)	1/13/1998 1:46:00 PM
From: MikeyB	Read Replies (1) \| Respond to of 12617

After many moons of lurking and observing, here are a few of my observations. There are essentially three types of plays: Long Term, Position, and Day trades. Each type of trade has different research requirements. Long term trades would be investment types where you like the long term prospects(ie the fundamentals) of the company and are willing to ride out the swings along the way. Position trades are shorter term ( days to months) where you like the technical indicators and news on the company. Day trades are for less than a day and based primarily on the action of the tape. When getting into a trade, you have to know WHY you are getting into it, whether it is for the long term fundamentals, shorter term technicals or news, or for the tape action. Once you determine your plan for the trade stick to it, don't change your plan halfway thru - ie. if you bought it for a daytrade, daytrade it not position trade it. Have a PLAN, be disciplined, and stick to your PLAN. For the Day Trade it seems that the primary criteria for getting in is the tape action and volitility not news and not necessarily the technicals and fundamentals. Since your playing right now's tape action and not tomorrow's or the next day's, get out at the close or sooner. MikeyB

To: Richard Estes who wrote (2388)	1/13/1998 4:11:00 PM
From: dpl	Read Replies (1) \| Respond to of 12617

> I am interested to see if random luck pays the largest part with the few winners or someone has a workable plan.< Any trader who trades over a very long period of time and makes good returns is not relying on luck. And the shorter term and therefore the more trades a trader does the more luck is factored out. Anybody can be right "one time in a row" by luck.Maybe more.But if you do hundreds of trades luck means nothing. David