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In a message dated 98-08-28 09:51:43 EDT, tmorge@xxxxxxxxxxxxxxx writes:
> Someone [I think TJ] said that people trading single contracts in the S&Ps
> should just not trade on days like yesterday. 95 percent of the people that
> read
> this won't like hearing that. I know most people aren't sitting on large
> margin
> accounts. I really do understand how difficult it is to make money trading
> from
> a small account.
Tim
RIght on. I am one of those folks, and it is the wisest and only
course of action. I allow my stops to guide me. Since it is folly to set
stops based on dollar risk, but wise to set them where the market noise won't
get them, I then look at the dollar risk of setting them there. When that
exceeds my tolerance I just stand aside. Yesterday it was easy to make that
decision. I was a spectator, not a speculator, yesterday.
Pete
PS. Some very very good advice in that thread. Guys take heed.
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