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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (37991)	3/6/1999 12:26:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 94695

What if your prediction is wrong?? The object is not to trade your market biases but what happens in the market. Predictions and expectations are two different things. Trading expectations provides a framework for evaluating and initiating the trade. It does not determine the management of the trade itself, and of future trades in your campaign to net a profit. Predictions determine a bias which you trade, right to that net loss which if handled differently could of been turned into a profit. Traders manage probabilities, not predictions. Give me a system that "works" only 30% of the time and I can show a new profit if my risk management and how it is reflected in my money management is properly performed. I actually have done this myself. Of course not taking profits too quickly helps here. Another aspect of money management. Good luck in the market! Bob Graham