Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: Frank	4/14/2005 8:08:39 PM
	Read Replies (6) of 206338

Losses are an important part of the process. I spent a large part of my teenage youth as a runner for a high stakes poker game and learned a basic theory from guys who made a lot of money : call it min-max strategy--i.e. minimize your losses and maximize your winnings--lose the least possible on poor hands and win the most possible on superior hands. I believe much of this concept can be transferred to what we do here every day. Thanks to some lucky daytrading and timely sells (and a few stops) I am 4% off March high and have given 9% of my profits back --well within my level of tolerance. Everyone here has his own strategy -the long haul tells the tale, not what happened Wednesday. Of late the discussion here has been highly myopic and characterized by too much oneupmanship. Hell, you people don't even know each other. Except for Big Dog and myself I don't think anyone's given name has ever been posted on this board ----Frank

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