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Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: TATRADER who wrote (6129)	4/18/1998 9:24:00 PM
From: JACK R. SMITH JR.	Read Replies (1) \| Respond to of 7396

Mark, I am your friend from another thread. My advice is this! For the contest and for life. You are already a good trader. You will get your butt kicked a few times and perhaps even go broke a couple of times. You are learning as you go. That is good. I have been studying great traders and a lot of them went through the same process. If you manage your risk and do not bet the farm on any single trade or any series of trades, you can stay in the contest and keep trading. That is the chalenge. Lets say that you are on a streak, then expand your risk. If you loose, then decrease your risk, and by no means increase it. When you enter a trade, then know when you will exit. Do not be afraid of the short trade, for it is the same as the long, except that perhaps an uptick is required. Do not limit yourself. Trade your own system and philosophy, and never depend upon a "Guru". You can learn from "Gurus", but do not depend upon them. Good traders almost never write books! What they do is trade, they are addicted to it and any position that they take deals with trading. They may have a title that says president, or CEO, but you can bet that someone else is doing the "crap", and they are watching the screen. They have assistants who know their mind and take positions in their behalf. Traders are traders. You sure you want to be a trader? They have no life!! Your friend from another thread!

To: TATRADER who wrote (6129)	4/19/1998 3:52:00 AM
From: LzzrdKing	Read Replies (2) \| Respond to of 7396

<<Educational Tibit of Night A Torpedo is a trading term coined by Jeff Cooper..Basically, when the market tanks 100-200 points, you look for stocks that are in a strong sector, and in an uptrend, and are up for the day...Then when the overall market turns, you buy these stocks and ride the continuing momentum>> That is not exactly a method unique to Cooper. any decent trader recognizes that if a stock in is up when the market is tanking, it is very very strong and worthy of putting money into. Good traders always look at the sectors they are trading stocks in. That is why I mentioned ELNT to you. You need to know what you are trading. The stocks I am holding now are pretty boring, but I am doing well by doing it my way. AMES HAIN MLHR LABZ ATMS WIRE OATS FMAX CYBX amongst others. Notice the common link? No tech, and no Southeast Asia concerns. Here are the techs in my trading account, mgxi ttilf epiq eqnx apsg gicof stgc xlsw geoc metnf. Likewise very little if any tie in to SEA. No chip stocks. mostly good tech like telecom networking and softwear.