Re: counterargument to c.lebeau's constant bet size under drawdown

[Dennis Holverstott <dennis@xxxxxxxxxx>]

Very informative thread!!!

I admit defeat. I modified Gary's spreadsheet so it could test the
reduce-size-in-a-drawdown pyramiding scheme against a
smaller-size-but-never-reduce pyramiding scheme. His spreadsheet has the
ability to generate a *real* equity meltdown and, in that situation,
reducing size works much better. So, the conventional wisdom is right
and I was wrong. I guess my problem was that I have been testing (and
trading) "good" systems that have never suffered such bad drawdowns. But
it could happen. I learned something. 

Thanks everybody and especially Gary. Glad I learned the lesson before I
got too cocky and lost my ass. :-)

-- 
  Dennis