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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: wily who wrote (1611)	10/28/1998 12:53:00 AM
From: kaz	Read Replies (1) \| Respond to of 7382

Wily, Please don't hold me accountable when we both end up broke! I started reading "Investing For Dummies" about a year ago because I knew absolutely nothing. Then, I somehow got hooked on William Eng's books (all of them). I couldn't understand a lot of what he said, and the only thing I was able to implement immediately was the Stop Loss Order, but if only I had known about that before! Then I read Jake Bernstein's "The Compleat Day Trader" and a bunch of other books that I don't recall making much of an impression on me. Then, in August, I read "Reminiscences of a Stock Operator" and BAM, it just changed my attitude. I can't explain it. So then I just spent day after day staring at the market, trying different things that mostly didn't work. The biggest thing I've gotten from just about every book is Stick With Your System. I use a long moving average and trade when a short MA crosses. My brother, who is learning from me so you can just imagine how little he knows, said, "why are you using 5 minute bars? We're missing all the best moves." Well, Eng says 5 minute bars are best for daytrading and goes so far as to say that if you need to look at every tick, you shouldn't be trading. Well, I look at every tick. The combination of the long MA and the short has, with some modifications, worked quite well with DELL recently. I don't have access to much historical data, so your guess is probably better than mine as to how long it will work. But one thing is for sure, I know within an eighth whether I should get out. Lots of whipsawing though. I am trying to work that out now. Fast executions are an absolute must and that is where I am at the biggest disadvantage. Forgive me if I sound at all high on myself. I'm just so damned excited. Paul