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Mike: Sounds ideal. Will the demo work realtime (is it live) for the 3 days? I know there will be no orders placed (except maybe in simulation). Ron

Mike: I'll try to take advantage of what sounds like a good suggestion. BTW, do I need to subscribe for the month to download the software? I am a little leary since Townsend does not provide a trial period. Ron

Mike: I appreciate the feedback. I am familiar with those sites and Tony Oz's books (which covers the scans of interest). However, at $250/mo. I wanted some valid confirmation that either of these two services are more than a marketing tool. Not having RealTick, I don't know if I...

I'm thinking of subscribing to RealTick for both HotTrend and the Oz scanners. Can anyone provide feedback on their experience with either? Just how effective has HotTrend been> TIA, Ron

TigerO: Guts comes with experience and confidence. Personally, I prefer to locate strong trending stocks to improve the selection process (if I'm over 50% with winners, I'm very happy). Darvas took tremendous risk (IMO, since he didn't truly understand position management) when employing...

And I agree with KISS. BTW, a test was conducted several years (or more) ago in which stocks were randomly picked to test the value of Position Management. The results (I don't recall the details) were impressive (that is, strongly positive). If one could also improve the Stock...

Lightningsmurf: There are two points that I emphasize (it's ok if you disagree) when discussing Stock Selection and Mechanical Systems... 1) Stock Selection is best learned by the trader (a discretionary approach). Why? Because the Market and the Stock have their own unique behavior...

Vulture: Try Cybertrader.com. You can download their simulator (the Pro version) and it plays back real data (even on weekends). It's pretty good, even in trying to simulate fills (although, it's still just a simulator).

Vulture: That's my point. I don't think mechanical systems should be used for signaling entry points. In fact, I don't think entry points are as critical as position management (you'll recall that some Market Wizards comment on it's better to have a poor stock selection strategy with good...

Vulture: Here your discussing technique, which is uniquely personal and is guided by what appears to work best for you. Don't misunderstand me, I think there is alot to be learned by discussing technique (I define technique as a more personalized strategy), and I'm certainly interested in...

Vulture, et al: I agree that most successful traders (survivors) are discretionary; and it would certainly be difficult to program all aspects of their position (trade) management techniques. However, the majority of traders do NOT fall within this category, and are still low on the...

Vulture: I'm with you on this. It is much more worthwhile to understand and learn the techniques of the 'survivor'. Scaling into a trade is something I'm working on now. It makes a tremendous improvement to the bottom line with little additional risk. However, I find it difficult to be...

TraderKay: IMO, successful professional traders have already internalized the position management rules, and therefore do not need a mechanical system (although, there are some professional traders that swear by their proprietary systems). I believe that position management lends itself...

Put another way... Without a strategy (or game plan), the chances of being profitable are slim.

This is an interesting subject that involves two opposing view points. However, I like to think that there is a blend that could be achieved. Having been in both camps (discretionary and mechanical), I understand (to some extent) the benefits of both. Rather than belabor the issues, I'll...

Well NewTrader1, what was your experience?

Praetorian, RTharp, Hitman: I've skimmed a good portion of the two threads 'Great New Pattern' (GNP) and I find it appealing for a number of reasons: 1) It fits my need for a Morning play, which means I'm out of the position before 11am. 2) It is SIMPLE. This is a key advantage, and...

Praetorian, I don't recall mentioning limited funds as an issue (it is not). If IBM is prone to bad fills, then I'll remove it from the list; it is on the list because rtharp had recommended it (however, I would like to know what strategy, in general, rtharp's friend employs). With regard to...

Praetorian, rtharp: I've adjusted the list to include the last post (and added IBM). Praetorian, the others on the list were based on your previous post, so I'm confused as to why the list is not good. ADI,AGN,CLS,DNA,DYN,F,FLR,LH,SPW,AOL,DIS,MO,IBM With regard to NO STOPS (and...

Praetorian, Hitman, et al: Thanks for the posts; much appreciated. OK. So we've narrowed the list of NYSE stocks to the following nine... ADI,AGN,CLS,DNA,DYN,F,FLR,LH,SPW Let me know if I missed any, Preatorian. We all agree that reading the tape is important, but I'm still...