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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Jay Lyons who wrote (9962)	3/8/1999 6:28:00 PM
From: Susan Saline	Respond to of 43080

DDIM well the poor stock trend aint due to revenues .... The Company's 1998 revenue of $114.5 million increased 89.5 percent over the revenue of $60.4 million in 1997. Revenue from Knowledge Consulting increased 97.2 percent to $96.3 million in 1998, which represented 84.1 percent of the Company's revenue. Knowledge Consulting consisted of primarily Year 2000 problem resolution in 1998 and 1997. Knowledge Transfer revenue, which consists of the Ardes 2k and Interactive Vendor Review products, increased 93.2 percent over 1997 to $3.1 million. The Knowledge Transfer division was formed in 1997. Information Services revenue increased 73.6 percent to $12.8 million and International revenue of $2.3 million decreased 11.6 percent in 1998 from 1997. The decline in International resulted from lower license sec.yahoo.com

To: Jay Lyons who wrote (9962)	3/9/1999 8:29:00 AM
From: TonyM	Read Replies (1) \| Respond to of 43080

Hi Jay! I had an email exchange with Gary on the article you posted and thought you might find it interesting. In the article he describes how the stops you set and your winning percentage combine to form an expectancy and how the product of expectancy and winning percentage is more important than the stops that are used. He then goes on to describe the importance of holding period on the overall success of a system. I pointed out to him that, in fact, the stops that you use affect the holding period, the wider the stops the longer the holding period will tend to be. Because of the dependence of stops on the holding time, you cannot dismiss the importance of the actual stops in the way that he does in his article. He seemed to agree with me that the wording could have been improved to reflect this thought. Tony Learning as I go....

To: Jay Lyons who wrote (9962)	3/9/1999 1:29:00 PM
From: just bearly	Respond to of 43080

Jay, Thanks for the post. I understand his point. Now I have to figure out how to incorporate these three aspects into my own trading system. Like he said, that could take me a little while to perfect. However, it makes sense. I think it's the mental aspect of the stop loss that is hardest to overcome even if it makes perfect financial sense. I recognize though how important it is to consider all three of these aspects. It's really not just about winning more often than you lose, it's about winning more money than you lose, and that can be accomplished with less than a 50% win rate as he demonstrates. Lots of food for thought here. Thanks again Jay. Tara