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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TraderAlan who wrote (7136)5/3/1999 8:30:00 PM
From: Dan Duchardt  Read Replies (1) of 12617
 
That's a classic and proven trader strategy that's been around a long, long time.

I don't doubt that Alan, but anything that has been around a long, long time predates this daytrading frenzy. I would agree with you that it is a sound approach for longer term investing, but the message was specifically addressed to daytraders. Even the ones who are short term position traders rather than pure scalpers are making their gains because their winners far outnumber their losers. One well known online "guru" who employs short term position trading promotes a philosophy of taking profits at 2.5%, and limiting losses to 10%. His portfolio looks pretty good because his number of winners is far greater than his number of losers. He has an occasional big winner of 5%, 7% or even once in a while a 10%+, but the average gain of his winners is considerably smaller than his average loss on his losers.
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