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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Eric P who wrote (2170)	7/29/1999 8:54:00 PM
From: Threei	Read Replies (3) \| Respond to of 18137

Eric, thank you for warm welcome! My trading carrier started strange - I was winning from the start. Not because I was that good, but because of screaming bull market. I was doing things that would for sure got me killed in any other market (and eventually did): holding losing positions until they showed profit, holding overnight everything that didn't show profit till the end of day... some stocks were gapping every morning and I was taking them home on regular basis (I remember USRX particularly, bought out by 3Com eventually). Still can't believe that ignorance and arrogance of mine... may be the only excuse is, my English didn't exist at the time, and I could not read how dangerous my "strategy" was... :) Of course it couldn't last long, and it didn't. ESOL had found me in March of 1997... who remembers - knows what a crash it was, who don't - take a look at chart. I lost big, and it was the moment that I darned back then, and to which I am grateful big time now. Real education had started. I started to read everything in sight, both books and Net materials, and I started slooow recovery. It took many months to get back, many small gains... It was not the last heavy loss. I got some other hits, for instance trying to short KTEL on it's crazy way from $6 to $80, although the first one was the biggest. In fact, I became professional in recovery :), and even included chapter on it in my book. It took about 1 1/2 years to stabilize my trading. I quit trading room which I won't call by name here, can only tell it's one of those that call stocks on guru's "personal experience", with no strategy whatsoever. I joined another one that has sound strategy which matched to my personal preferences. For some personal reasons, October of 1998 became the point I use as zero now - and I made over 400% since then. I know what my weak spots, and i know my bottom line - I mean, to what point I can allow my portfolio equity drop and still be able to claw my way back. Although there are no such extremes anymore, and in fact it's not a struggle for me anymore - I enjoy trading since it's ceased to be everyday's battle. Wow, it's a long post... sorry guys :) Vadym