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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: surfinSteve who wrote (782)	7/7/1998 10:59:00 PM
From: R Stevens	Read Replies (2) \| Respond to of 1729

One of the trades I did well on was Lucent Technologies which was mentioned on the P&F thread. I like that charting system as a technical indicator for position trades(longer than one day). Also their market indicator charts help you get a handle on the trends of the markets and sectors. My major mistake was not stepping back after a big run up in my account. I have had my biggest losses, and I have read that other traders have their biggest losses right after they have their biggest gains. That has happened to me before, so I did cut back quite a bit when I thought I was hitting a run up peak. But even doing that did not prevent the personal reversal. I was mostly cash for a large portion of May and June because the market was down trending and I felt I had just peaked. But then I got caught up with an old stock that has caused me problems in the past and once again I lost some money on it. So I have taken it off my watch list and have sworn not to touch it again. Carlos Castenada reveals his teacher don Juan's comments about personal decisions in his latest book, "The Magical Passes": "The Shamans of ancient Mexico," he said to me once, "believed that choice, as human beings understand it, is the precondition of the cognitive world of man, but that is only a benevolent interpretation of something which is found when awareness ventures beyond the cushion of our world, a benevolent interpretation of acquiescence. Human beings are in the throes of impersonal forces of the universe that pull them every which way. The art of sorcerers is not really to choose, but to be subtle enough to acquiesce" So I have tried to acquiesce to the seeming law of trading that you will lose after you have won a lot. In doing so I have hoped to minimize the impact. I remain your humble, RS