VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Sully- who wrote (39858)	8/6/2001 7:08:20 PM
From: Jill	Read Replies (2) of 65232

Re: RR: Not included in this discussion is how much $ you risk as part of your total capital & how tight your stops are. He does place stops consistently--which people on this porch, when I mentioned its importance recently--told me they couldn't & wouldn't do!!!!!!!! That's insane. In addition, Teresa for instance risks no more than 3% of capital on any given trade, with a stop loss of 5% usually, or 10% at the most. If your T.A. is good & your discipline is good, you will let your winners run when they do run, and get out when they don't. But people's emotions get in the way and theya re afraid to let their winners run (by just moving stops up or down i.e. trailing stops), they'd rather have a sure small profit; and in the meantime, their egos get mixed up with the losses & they hang on waiting for recovery, ie. waiting to make a bad thing good. Attachment to the particular trade. It is VERY VERY VERY hard to combine good t.a. skills with the above discipline. Maybe RR doesn't detail the actual wins & losses but he always tries to inspire people & I'm sure he comes out ahead each year (profit wise)

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