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After a two week hiatus during the holidays, I feel like this guy. It's
taken me two days of heavy trading (and consistent losses) to re-learn many
of the lessons I've learned the hard way over years! For some stupid reason,
I kept wanting to buy the breakouts instead of buying the retracements and I
kept getting the hell whipsawed out of me. I finally had the hang of it
again by mid-day today, and by an hour before market close, I had recouped
my losses and was nicely ahead. I was ready to walk away, when I saw a
breakout coming which I instantly decided would be a big run into the close.
Needless to say I did one trade to many and gave back half my profits.
Fortunately, the one skill which did not leave me is the ability to count in
points, rather than dollars, and just keep playing the game until I get it
right.
Earl
-----Original Message-----
From: Walt Downs <knight@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Tuesday, January 05, 1999 11:14 PM
Subject: Trading GEN: Article
>THE "WEEK-END" PLAYER
>
>A good technical card player. Sometimes he plays hands quite well,
>holding or folding as he should. At other times he makes silly mental
>errors. He does not play the game often enough to stay in "sync", and
>lack of consistency is the price he pays.
>
>His technical proficiency is enough to keep him in the game for a
>fair amount of time, with the winners and losers being roughly
>equal. Eventually, two factors make him lose more than he wins:
>A sudden mental slip of "What the heck, it's only a few bucks to
>stay" , or the constant drain of the Vig.
>
>His rate of loss is moderate, and because he is technically good,
>and reasonably smart, he usually walks away with $4 or $5 dollars
>left from his original $20 dollar stake.
>
>Kenny: "....Know when to run!......"
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