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Non-Tech : A.B. WATLEY - THE ULTIMATE TRADER! -- Ignore unavailable to you. Want to Upgrade?

To: Dave Triplett who wrote (643)	2/6/1999 1:48:00 PM
From: Rick Faurot	Read Replies (2) \| Respond to of 2045

Dave, I agree. We are in it for the money. But building character is critical, because making tons of money can be even more destructive than fighting with brokerage problems. I have seen a lot of people self-destruct after they made a bunch of money. I myself went through a meltdown after being on a hot streak last year. My brains went googoo and I was pulling the trigger almost randomly for awhile. The money can make you very high and then you act like a chimpanzee instead of a disciplined trader. I have seen it happen to lots of traders I know and if you read the Market Wizard books, you'll see where some very smart people lost some truly astounding sums of money after making fortunes because their judgment went away. Daytrading is a potential gold mine for anyone who gets a handle on it, so it is worthwhile to be patient, methodical and careful and build an effective powerful system. It beats working!! RickF