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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: jfhh who wrote (19794)	2/2/2000 9:10:00 AM
From: Rande Is	Respond to of 57584

Congrats, John! . . on doubling your retirement portfolio! . . . I am honored to have helped and am very happy to hear that this trading thing has finally sunk in. If it were easy, everyone would be doing it. The simplest things are often the most difficult to do. For example, buy low. . .sell hi. . .sounds totally simple and obvious. . .but look back at your last 10 trades, and score yourself the following way. . . Each time you bought near a recent low, score yourself 1 point. . .likewise, each time you sold near a recent high, score yourself 1 point. There are 20 possible points on your last 10 closed trades. I venture to say that nobody here scored a 20. That is just human nature. . . we are risk takers and we have a herd instinct of sorts [like the bulls we are]. . .and "buy low/sell hi" is a discipline that always requires that we buck the trend and move opposite the herd. It is far harder to put this simple rule into practice than it appears. One of the most important rules I learned in graduate school was "less is more". I had not heard it prior to arriving in Miami, and it was an extremely difficult lesson to learn. And many years later, it is STILL a struggle to resist the temptation of adding instead of subtracting. So excuse me for rejoicing when one of our own "gets it". . . but this is what it is all about. . . I love to hear how bad trading patterns have turned around to become good ones. . .losses have become profits. . .there are no guarantees and there will always be mistakes. . . but the disciplines we learn hopefully eclipse our errors. . .and we make money despite ourselves. So . . .YES! Tell of your victories. . . encourage those that have yet to experience them. . . share your successes and your failures. . .and point out the differences between them. . . Light the path for the newbies. . . this shows character and generosity. Thank you John, for sharing your experiences and for encouraging others. Rande Is . . .now get to work on that trading port.