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Strategies & Market Trends : Tech Stock Options
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To: Electric who wrote (39956)4/16/1998 12:12:00 PM
From: Tom Trader  Read Replies (1) of 58727
 
Edited >>I have to give you kudos for sticking to your system, I know it would be hard for me to buy and sell subjectively as per your mechacnisms<<

Very tough to do--but when the system makes money year in and year out, one knows that even when one takes a few losses -- in the long run, one will make money.

The important lesson that I have learned is that it is not the percentage of winners vs losers that matters, it is the $ratio of winners to losers. Most traders starting out, are bothered with a losing trade--an ego thing according to Elder and Bernstein. But if one looks at it objectively, what does it matter if the percentage of winners is 40% or 80% as long as one is making money. The desire not to have losers -- is what causes one to hang on to ones losers -- even as they lose even more money.
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