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Microcap & Penny Stocks : NAUGHTY NOTES-SHORT TERM STOCK TRADING IDEAS
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To: NAUGHTY NOTES who wrote (602)6/29/1999 3:20:00 AM
From: Jim Bishop   of 751
 
<whack out my losers and average up on my winners>

NN, just caught that post. My buddybillythebroker would always tell me, every time I tried to average down, "you don't average down, you only average UP!"

Lots of traders like to say, paper trade until you can average 6-7 out of 10 winners. But I like that guy that said, something like...

You can lose 9 out of 10 times and still be a winner, as long as you cut your losses, and that one winner out performs the losses, or something like that - you get the gist I'm sure.
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