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Kektayun:
I was told the following expression many years ago. I
never forgot it because it is cute and to the point.
Unfortunately I do not take its advise a few time and
got wet.
"If you piss into an east wind you will get wet."
Norman E.
Linda Swope wrote:
>
> Hi Ketayun,
>
> Back in August of 1998 I lost 66% of my trading money on a CMGI short. I
> had made literally 100's of trades and thousands of dollars up until that
> point. But I made 2 huge mistakes I've never made again:
>
> 1) I never risk more than 2% on a single trade. I pull the plug or don't
> take the trade if the logical stop risks more than that.
>
> 2) I was trading more from my gut than from indicators. After essentially
> wiping out my account, I spent a full year studying trend indicators that
> could keep me out of trades that are a long shot.
>
> My trend indicators, which are incredibly simple, tell me there was no short
> trade on QQQ around $165. So my advice is to to take the loss and then get
> to work on your technical analysis. After a year of mostly study and very
> little trading, I finally can look at a chart and see structure where there
> once was chaos. Now I trade with a mathematical probability of success. And
> stops save my account when the trade goes the other way.
>
> Good luck and Happy Holidays!
> Linda
> Swope's Mountain Photography
> http://www.swopephoto.com
> linda@xxxxxxxxxxxxxx
> Climb the mountains & get their glad tidings: Peace will flow into you as
> sunshine into flower; the winds will blow their freshness into you & storms
> their energy, & cares will drop off you like autumn leaves. John Muir 1838 -
> 1914
>
> -----Original Message-----
> From: Ketayun <ketayun@xxxxxxxxxxx>
> To: realtraders@xxxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxxx>
> Date: Tuesday, December 21, 1999 1:03 PM
> Subject: [RT] Advice needed
>
> >I would appreciate any advice as to what next????? Short QQQ at 165.
> >Take a loss at 175 and abort? or .......?
> >
> >Thank you,
> >
> >Ketayun Rustom
> >
> >
> >
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