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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Kapusta Kid who wrote (7938)	1/22/1998 4:32:00 PM
From: Richard Estes	Read Replies (1) \| Respond to of 12039

Streets smarts shows patterns for buying or shorting. like if ADX>30 at last pivot buy when price bounces off 20 EMA on a correction. The exiting their setups are left to non-specfics but they don't take losses home. I don't think anyone should daytrade or 1-5 day trade if you can't do it all day, real time and have years of experience. It requires capital and constant alertness to try to make it on small % moves.

To: Kapusta Kid who wrote (7938)	1/22/1998 8:12:00 PM
From: ftth	Read Replies (1) \| Respond to of 12039

I'm not targeting this at you Pete, but there is no "Cookbook to Riches." The probability is about nil that a person could buy Street Smarts and execute the trades--selection, entry, and exit--the way Conners and Raschke have, and do it consistently. Same with "hit and run trading", "Investment secrets of a hedge fund manager," etc. I'm not saying don't buy the book because I'm sure it's very instructive. Point is no single book is going to encapsulate what took Linda R YEARS of trial and error to formulate, not to mention that, despite her consistent success, she still LIVES the market FULL TIME (which is more than a person with a full-time non-market job could do). Her work day doesn't end at the closing bell. There are "intangibles" that cannot be captured in a book. There's a good interview with Raschke in TASC vol 11 # 9 (p360-366). dh