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Non-Tech : MB TRADING

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To: Rick Faurot who wrote (3508)	1/23/1999 2:14:00 PM
From: Steven Ivanyi	Read Replies (1) of 7382

<<I had to go through months of up and down trading before one day I finally woke up to the fact that I had been breaking the number one rule of trading: keeping tight stops. I had a beautiful winning streak that made me a ton of money. I forgot the rules. It went to my head. I thought I could do no wrong. Then I got stomped. I lost my concentration and went into a losing streak. Took me a LONG time to get back on track. Now with tight stop discipline back in place my trading has improved. I NEVER let a trade go against me a tick without stopping out. No exceptions. By preserving capital, I stay in the game and give myself a chance to learn. If I learn enough, I can do well.>> Extremely well said. I went through a very similiar learning experience myself before I looked in the mirror and said "You fool, cut your losses fast - or you're out of business." Steven

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