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>>Mr. Weintraub, that was a fine article in the most recent FUTURES
>>magazine. I just need a bit of advice. When should i cry out "uncle"
>>and move on with my life. This is my 4th year of trading and again, i
>>have gone bust. I am in my mid 20's. Do you think i should just give
>>up??
>>
>>
>>Sincerely, Paul
>>
Paul, I didn't see the article but I wouldn't solicit advise from a guy who
sat there and watched 90% of his equity dissappear before realizing that
the trade wasn't working. Maybe I read the wrong post?
Ah well, it's unfair to criticize. I have wiped out a few times myself. In
life, it's not what happens to you that counts, it's what you do about it.
Do you think Neil will change his stock-trading ways? The thing that saved
me was when I realized that I had to be STRICTLY a system trader. You gotta
know yourself. Figure out what it is you keep doing wrong, and why, and
take specific steps to change it.
Design an exact system with entries and exits. Not just a "method". You
will know the risk (there's no system on earth where it's necessary to sit
through a 90% price decline), and the odds of success. Put it on automatic.
It's not how you thought it would be, it's pretty boring actually.
Different things work for different people. Some on this list have the
ability to look at a chart and envision and implement a trade. For me it's
folly. Maybe you can get the trade to go in your direction, but then what
do you do? There's nothing to go on but old sayings "cut the losers short,
let profits run" etc. Some claim to have a "system" but for some reason it
can't be computerized. So therefore some form of discression is involved.
Sorry, not interested!!!
I wish you the best...
Phil
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