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Strategies & Market Trends : Natural Resource Stocks

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To: AltLar who wrote (49309)	1/3/2007 2:27:26 PM
From: hubris33	of 108695

Good for you! You have taken the first step by deciding to NOT be run by emotions and to use stops in your trading! I'm sure you've seen iso pound the table on more than one occasion about 'money management' and capital preservation. The switch between a focus on profits to capital preservation is one that distinguishes the pros from the rest. {getting on the soapbox} When I started trading, I heard the old phrase, "In order to learn how to make money, one has to first learn how to not loose money!" I can honestly say I didn't really understand or internalize that until after a few severe beatings by Mr. Market. For me then, realization/internalization of the lesson was one step, the next was implementation. I heard Oliver Velez say once {and it seemed to stick} the more professional one gets at their trading, the more $ they leave on the table. I think his point is that the pros trade for the lower risk part of the move and let the amateurs chase the last few bucks in the trade. Better to be out having rung the cash register than the last guy at the party holding the bag. Good luck with your trading in 2007! H3

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