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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: flickerful who wrote (8508)	11/13/1998 1:55:00 PM
From: Tom Trader	Read Replies (4) \| Respond to of 44573

>>as for validation, we may not see it for some time, too true. the market is awfully stubborn, huh...<g><< I've been posting on SI since April 96--and in that period have seen lots of people come and go. A few keep in touch with me privately now because they have shared with me the toll that the markets have taken during this time. It always used to amuse me to see threads open up that had as its aim the doubling of one's capital in a month or two-- and if you ever noticed they were very active threads -- but not for long. I recall on the TSO thread someone who posted that he had turned $10K to $100K in a month and then lost it all not long thereafter. If you go back and look at the active participants at SI over the past couple of years--who are still around--I suspect that you'll see that they have some traits in common: reasonable expectations, money management, not getting caught up in the euphoria of the moment or for that matter the despondency of the moment and yes, to some extent trading skills. Preservation of capital is the name of the game -- so that one is around to play another day. I have made every mistake in the book and then some -- am a lot better at it today. Most of my funds are still in T-bills; I invested some funds in the oil sector during the sharp pull-back that we had and thanks to OJ, whose opinion I greatly respect, I took a partial position in the semis which have paid off in spades. Today the banks, brokerages and Asian markets look interesting to me -- but have not done anything in these areas, as of yet. The last spectacular success that I had was so long ago--an investment that I made over 12 years ago-- that it is not even worth talking about. I view some of the rags to riches stories on SI -- as being the equivalent of a shooting star -- glowing very brightly for one brief shining moment and then one is left with ashes. Like I posted not so long ago -- Mohan once posted on the Ideas thread that half the battle is in making a lot of money -- the other half is in keeping it. Always worth keeping in mind. Please excuse the philosophizing!!:)