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


To: TraderAlan who wrote (1333)10/30/1998 8:00:00 AM
From: Dr. Harvey  Read Replies (1) | Respond to of 1729
 
Alan,

<<Frankly, I still can't find too many people to emulate in the financial world, regardless of their level of success. >>

Point taken, but he was mostly involved with futures, and long before the days of program trading!,

as far as the emulation,

I like John Murphy's analysis, and I have been reviewing his work since 1987 or so. he is consistent.

The trouble I find pervading the trading world, is the unwillingness to take small losses and get out when a trade goes wrong. Most people will hang on because they don't want to admit they are wrong. I have reduced my trading dramatically, and now look to position in small stocks with large pieces. the liquidity issues aside, i have made the most money that way over the last 14 years. However, I have also taken some extremely big hits that way as well.