|
PureBytes Links
Trading Reference Links
|
I also took the B. Williams tutorial. He told me that using any kind of
money management was "coming from fear, not confidence." In my opinion,
listening to anything he has to say is a major threat to your equity, and
you SHOULD be afraid. None of his trading ideas are based on sound
principles - just "confidence" (if you know what I mean.) Risk control and
money management are the most important aspects of playing this game!!! Run
away quickly and steadily from anyone who tells you differetnly!
David Cicia
At 10:11 AM 6/2/98 -0500, Peter Timaratz wrote:
>>Bill Williams also talked about "trading the market not
>your wallet" in connection with stop
>>placement.
>
>I was a student of Bill years ago. Back then I had a fairly
>small account and I told him I thought it was too risky for
>me to trade bonds with this size of account. He said I
>should trade the market and not my wallet. I agree that
>stops should be calculated based on market considerations.
>But if a stop entails too much risk relative to your account
>then you shouldn't take the trade. It's a simple money
>management principle, but Bill didn't agree with it.
>
>
|