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Strategies & Market Trends : Help me become a millionaire

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Dec 29 4:00 PM EST

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To: victor pan who wrote (546)	2/3/2002 5:43:24 AM
From: lee0	Read Replies (1) of 583

Well you just said that you traded more than you wanted to so that may be over trading. There is nothing wrong with putting 80% of your account on the line with 1 trade. “Put all your eggs in one basket and guard that basket with your life…” My trades can last 6 months or longer and if it goes my way I have had 90-95% of my capital for one account in a specific trade. And I do this with a lot of leverage that could have my head handed to me in an instant. Anyway trading options the way you did, in my opinion, is crazy unless you have many, many, many years of experience with options. It seems you would have done better writing worthless options near expiration. Yes. I am criticizing your trading and your goal but in a constructive manner. This is by no means a personal dig. If you only tried to get a better interest rate than you had to pay on your credit card than you would probably show a hansom profit. You borrowed 16k? Did you ever manage 16k in your life before? If not what makes you think you could? If you gave 16k to a broker to manage and he lost the money like you did for your self you would fire him. (at least I hope you would or it could turn into a personal dig ; ) Take half your remaining capital and give it to a broker or buy a CD at your local bank. Take the other half and trade with it. Stay away from options for now. Trade in small lots until your record improves. (say lots of 100) Even consider slower moving stock like the ones in the Dow. I can almost guarantee that if you go for a good rate of interest on your trading account instead of reaching for the stars you will be a millionaire sooner than you think. When your trading improves take half the money you put aside and trade with it again. Take the other half and take a week off or do something for yourself. Buy a good bottle of whiskey or something. One last thing listen to nothing that anyone tells you to do with your money. Stay away from these posting boards to get trades from it’s your money. Cheers and have fun…

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