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<SPAN class=510075000-23042001>Geoff, What book are you talking about? <A href="">The Art of Electronic Futures Trading: Building a Winning System by Avoiding Psychological Pitfalls <FONT face=Arial color=#0000ff size=2>by <FONT face="Times New Roman" color=#000000 size=3>William S. Kaiser? <SPAN class=510075000-23042001> <SPAN class=510075000-23042001>Thanks, <SPAN class=510075000-23042001>Dima. <SPAN class=510075000-23042001> <FONT face=Tahoma size=2>-----Original Message-----From: <A href="">gmulhall@xxxx [mailto:gmulhall@xxxx]On Behalf Of <A href="">gmulhall@xxxxSent: Sunday, April 22, 2001 7:03 PMTo: amibroker@xxxxxxxxxxxxxxxSubject: [amibroker] Damage ControlFolks,I've not read or heard anyone better on Damage Control/Position Size/Stop Loss & Pyramiding than in his book 'The Art of Trading'.GeoffOriginal Message:-----------------From: Dr. S. Nathan Berger snberger@xxxxDate: Sat, 21 Apr 2001 18:56:31 -0400To: amibroker@xxxxxxxxxxxxxxxSubject: [amibroker] Running Alligators<html><body><tt>Steve-<BR><BR>Well, Alligator is emphatically another example of how there is more than<BR>one way to accomplish a task. And it's so colorful and flashy!<BR><BR>However, since there seems to be many relatively new investors out there,<BR>allow me to presume togive some advice. I don't know how to program, but I<BR>have learned a thing or two about how to invest.<BR><BR>One of the criticisms I have seen of Williams' system is that although he<BR>professes to love the simple approach, his system is needlessly<BR>complicated. Someone wrote, "Balance lines, awesome oscillators and<BR>fractals are just moving averages, MACD and chart breakouts in disguise."<BR>But this is all beside the point. <BR><BR>Technical indicators and elaborate softwarewill not spare you losing<BR>money. YOU MUST HAVE A SYSTEM OF DAMAGE CONTROL- or risk management as it<BR>is better known. I traded for many, many years before I started using stop<BR>losses, for example. Now, the minute I get a fill on a position, I enter a<BR>stop loss so that there is no way I'm going to enter at 10, clap my hands<BR>in glee when the stock goes to 20, begin to worry when it drops back to 12,<BR>and end up praying it will somehow recover when it is at 6 and I'm still<BR>holding it!<BR><BR>Get a copy of Elder's book, Trading for a Living, by Dr. Alexander Elder.<BR>Believe me, his system will make you money- as will so many other<BR>approaches to the market. But his system for managing risk is much more<BR>valuable than any other I have seen. It will keep you from regretting you<BR>ever decided to invest in the markets.<BR><BR>And let me thank you again, Steve, (and the rest of you programmers), for<BR>sharing what you learned about Williams- and the AFL's you and others have<BR>written- with the rest of us. I know my own trading position has been made<BR>stronger by being exposed to what you know and what you shared with us!<BR><BR>Nate Berger<BR><BR></tt><br><!-- |**|begin egp html banner|**| --><table border=0 cellspacing=0 cellpadding=2><tr bgcolor=#FFFFCC><td align=center><font size="-1" color=#003399><b>Yahoo! Groups Sponsor</b></font></td></tr><tr bgcolor=#FFFFFF><td width=470><a href=""http://rd.yahoo.com/M=162801.1342250.2934640.1280005/D=egroupmail/S=1700007389:N/A=599089/*http://www.knowledgestorm.com/jump_white.html?c=Yahoo&n=eLert_ComputersInternet_Software_WhiteGridOptions&t=ad";>http://rd.yahoo.com/M=162801.1342250.2934640.1280005/D=egroupmail/S=1700007389:N/A=599089/*http://www.knowledgestorm.com/jump_white.html?c=Yahoo&n=eLert_ComputersInternet_Software_WhiteGridOptions&t=ad"; target="_top"><img width=468 height=60 src=""http://us.a1.yimg.com/us.yimg.com/a/kn/knowledge_storm/elerts_n_whitegridoptions.gif";>http://us.a1.yimg.com/us.yimg.com/a/kn/knowledge_storm/elerts_n_whitegridoptions.gif"; alt="Click Here to Find Software Faster" border=0><br>Click Here to Find Software Faster</a></td></tr><tr><td><img alt="" width=1 height=1 src=""http://us.adserver.yahoo.com/l?M=162801.1342250.2934640.1280005/D=egroupmail/S=1700007389:N/A=599089/rand=591515640";>http://us.adserver.yahoo.com/l?M=162801.1342250.2934640.1280005/D=egroupmail/S=1700007389:N/A=599089/rand=591515640";></td></tr></table><!-- |**|end egp html banner|**| --><br><tt>Your use of Yahoo! Groupsis subject to the <a href=""http://docs.yahoo.com/info/terms/";>http://docs.yahoo.com/info/terms/";>Yahoo! Terms of Service</a></tt></br></body></html>--------------------------------------------------------------------Mail2Web - Check your email from the web at<A href="">http://www.mail2web.com/ .Your use of Yahoo! Groups is subject to the <A href="">Yahoo! Terms of Service. Your use of Yahoo! Groups is subject to the <A href="">Yahoo! Terms of Service.