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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (2273)	1/11/1998 5:41:00 PM
From: steve goldman	Read Replies (2) \| Respond to of 4969

Don, Let me put it this way...I am in no way going to validate my skills, my integrity, my sincerity as a trader by running up here each and every time I might make a trade for myself. I wouldn't do it for compliance reasons. I have never recommended stocks or transactions, in fact, if anything I have tried to dissuade some "newbiew" (said affectionately) from become daytraders after reading the "hype" about day trading. I wouldn't do it for practicle reasons as I usually only have mornings and lunch time to possibly post replies. I wouldn't do it because I could, if I wanted, totally post trades seconds after I have an 1/8 or quarter in my favor. It is an exercise that won't occur. My skills, my discpline andunderstanding of the marketplace have landed my the job I have. The fact that I head the trading desk at Yamner & Co., Inc., a firm that has been around 20years without any fines, violations or complaints, validates what I know. Anyone who has spent time talking with me or my firm, or has read this thread knows that I tell it like it is, I don't lie and I give my opinion of the situation with the poster's best interest in mind. I have always taken whatever time it takes to speak with people and answer questions. I think you are simply offended because it is your lack of discpline in this situation we are talking about. Objectively, you are wrong. Under no circumstances can it be considered prudent to leverage an account 400% in two losing stocks, by averaging down, as a trader. I have never suggested a course of trading that is 100% correct as I would never be so bold as to say that only one system can be successful. What I can say, and what most professional traders would say is that taking stocks home AS A TRADER, doubling up on a losing position, leveraging your initial equity by 400%, is wrong. Quite simply. It might work out, you might make a ton, but its not something you build a profession on. By your own admission you are BEARISH due to the strong downdraft. I believe this was close to your wording. Yet, even being bearish, YOU DOUBLED DOWN, lEVERAGINE YOURSEFL 400%. By your own admission, you trade 1 or two stocks a day. I handle over 100 trades for the firm each and every day, PLUS any trades I might do for my own accounts. I handle as many trades in 1 weeks as you handle in year, if that. I deal with other professional traders, trading firms, market makers, etc. up and down wall street. I am in the industry. I recreate with them, I socialize with them. Not that this makes me any better of a trader, but when I say I have seen traders come and go due to such lack of discipline, I am talking from experience. Don, I have never said that you don't know what you are doing, so don't be so irritating to say that I might be deficient. As well, I find the way you use quotes around the words "PRO" or the way you start each and every one of your posts with a copy of selective text, to be quite obnoxious. Don, you are not a professional trader. You would never last with the lack of discpline you showed on that trade. That type of trading is completely reckless. Reckless, on occassion, wins the day. Its not something that wins the day, day after day. Don, you posts tons of messages up here without much content. Half of you messages are copy of selective text from the person asking you a question. Yet when I pick apart what substance I find, you can't handle it. You get offended....geez...interesting how offended the offensive can become. Good luck to you. Regards, Steve@yamner.com