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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Math Junkie who wrote (22859)8/1/2006 8:56:55 AM
From: fahrenheit451  Read Replies (3) of 42834
 
Math

>>>> Second, he billed it as a two to four month rally, i.e., short term. It only became a long term holding after the fact.

Thanks for pointing that out. It supports my suspicions about what this man actually did for those 25 years on Wall Street. All we know is the name of his two employers. Turning a short term trade into a long term holding is an amateur mistake.

"3. Failure to Accept and Limit Losses
Another major contributing reason to day trading failure, is the reluctance of many traders to exit from a losing position. Many traders hold on to losing positions for far too long, in the hope that the share price will recover. Even worse is the practice of adding to a losing position so as to "average down". This is a recipe for disaster. It is essential to limit (and accept) losses in advance, in accordance with your trading plan, by pre-determining your exit point if the stock price moves against you. Stop-loss orders provide a convenient method of doing this."


daytrading.about.com

None of you Brinker supporters has presented any evidence that he has ever actually managed money on Wall Street. If he has, and this is the way he handles trading, then I can see why he makes his living in radio.
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