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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: donald sew who wrote (23698)5/28/2000 10:13:00 AM
From: KM  Read Replies (1) of 42787
 
Don: I am not posting on SI much anymore but I do you have you bookmarked and I wanted to tell you what a great essay that was. One of the reasons I got tired of this forum was the overabundance of "bull market geniuses" who were bragging about their 1000% returns, being in the Wall Street Journal, etc. I'll bet a lot of them don't feel so smart any longer.

Last summer and fall, I had most of my money tied up in one large position, which didn't move at the pace I expected and basically made me unable to do anything but scalp intraday for small moves (3-5 trades like that per day for anywhere from 1/2 - 1.5 points). The amount I was trading with was about 25K and I had to pay my living expenses on these trades. I learned to take profits quickly and walk away, take the profit money out of the account every day and protect the capital.

Good thoughts. There is a person on the Daytrading Fundamentals thread, Threei, who has had the same experience as you detailed above and he tells a great story of how he came back by controlling risk and making small gains. I much prefer that approach myself even though it is frustrating to take your profit and then see something continue on for a multi percent move, but staying alive is the name of the game now.

Back to lurking. Glad to see you back on SI.
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