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Strategies & Market Trends : The Great Coin Toss Experiment II -- Ignore unavailable to you. Want to Upgrade?

To: bbgold who wrote (178)	6/17/2003 5:21:07 PM
From: Sojourner Smith	Read Replies (3) \| Respond to of 188

Thanks you brought up some good points. The problem I had when I started trading was risk of ruin could be achieved quickly, but I got lucky and hit the high tech bubble. But then I lost most of it to taxes and making some big blunders. Now I have a healthy account, through inheritance, and I am determined not to lose it this time. More money actually makes it harder, since being fully invested is difficult and diversification does not do much good if the markets are correlated. The first step is I have to admit I can be right 80% time and still lose money. I was really surprised how I misjudged the rally over the last month or so. Or the gold rally last year. I have doing this over 6 years and apparently I can still make big mistakes, so now I am going to plan more for possible mistakes. I could never find a good stop loss system, most still get caught on gap-ups and gap-downs. So that is way I have been drawn to position sizing. Many systems that are based on breakouts are also too risky to fully invest, since drawdown can be high. Eeven after 6 years I still don't have a consistant method either fundamentally of TA-wise that will make money consistantly, and I have only found a few people who. Usually after I start following them they stop posting. So that is why I have been rethinking my whole approach. more