|
PureBytes Links
Trading Reference Links
|
Darrell Zang wrote:
>
> Wayne....
>
> A month ago, I read a good article by Jake Bernstein that proposes
> eliminating stops....He did a series of trades and then used different Stop
> loss levels and found the best was without stops. So, I decided to follow
> suite only to end up with BIGGER losses than before!
>
> Somehow, I've gotta start winning in my trading, I'm a 100% loser so far
> since starting in Sept. Add to that my dismal stock record (90% losers
> in a roaring bull market) and you can see how damned discouraged I'm
> getting!!!!
>
Darrell,
The secret to your success lies within your losing trades. You say
you currently have 90-100% losing trades. For you to be exceedingly
successful all you need to do is the opposite of what you have been
doing. Whatever your system is, reverse the buys to sells and the sells
to buys. Let's us know, how it goes.
Perversely,
Norman
>
> Wayne/Jan Royal wrote:
>
> > Darrell Zang wrote:
> >
> > > Everbody....
> > >
> > > I've got a question that seems to have no easy answer....Maybe
> > > somebody
> > > on the list can help.
> > >
> > > >From all I read, it's said that scrupulous money management is
> > > absolutley necessary to be a successful trader. Things like, never
> > > trade with out protection stops, etc. It is also said that you
> > > shouldn't risk more than 5% of your portfolio to make any trade.
> > >
> > > HOWEVER, when I try to follow this advice and place my stops within
> > > 5%,
> > > some jerk on the floor goes after my trade and stops me out!!
> > > I've done a trade at 2:00 and been stopped out at 2:01. That hurts!!
> > >
> > > I've tried on close stops, but that doesn't offer much protection if
> > > your moved against strongly.
> > >
> > > My, question.....How does one keep in the market and still practice
> > > money management?
> > > How to keep from being stopped out???
> > >
> > > Darrell Zang
> > >
> > > Darrell Zang
> >
> > Aloha Darrell,
> > At your closest bookstore, get the recent book by Victor Niederhoffer,
> > "the Education of a Speculator"
> > ...it's invaluable and in it, he speaks of stops...he doesn't use
> > them...and he trades billions every day.
> > along with Soros and the other market makers.
> > It's great reading, lot's of humore
> > and talks of life itself, not just these crazy markets we're all trying
> > to understand. You'll enjoy it.
> > Take care,
> > Wayne
|