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

To: Dave O. who wrote (4014)	9/15/1999 4:20:00 PM
From: Eric P	Read Replies (1) \| Respond to of 18137

Dave: Nice article. Several of my favorite parts were: "The best traders I have known over the years are those who were disciplined because of a need to preserve their capital. Trading was the way they supported themselves and their families, paid their mortgages, and put food on their tables. If trading is your profession, you'd never jeopardize all your capital on one or a few trades." And... "Trading isn't about making profits quickly or making up for losses. It's about preserving capital. Whether you're a fund manager trading client money or an independent trader, you must treat every dollar like it was your last. That way, you'll learn to handle losses and hone your discipline. You'll learn the lessons that the market will demand of you and, with luck and dedication, you'll have money left over to keep on trading." => Both of these sections harp on the critical importance of money management. Newer traders should really take this to heart, or else prepare to be burned by "bad luck". -Eric