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Norman/All...
You are right about that annoying font size Norman! I've been meaning to
post in the hope of finding out why it's happening and if I can solve it
on my receiving end. The only type setting I have found in Netscape
adjusts the "...wrote" section of the mail.
Any help would be appreciated.
Best... John
nwinski wrote:
>
> I apologize if this gets posted more than one time. But, after 8 hours,
> there is no sign of my original attempt to post this.
>
> ---------------------------------------------------------------
>
> Subject: Re: Scalping Help!
> Date: Tue, 12 Jan 1999 22:26:54 -0800
> From: nwinski <nwinski@xxxxxxxxxxxxxxx>
> Organization: InfiNet
> To: gmkramer@xxxxxxxxxxxx
> CC: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> References: <031801be3e65$a0ef2a00$02928318@xxxxxxxxxxxxxxxxxxxxxxxxxxx>
>
>
>
> Gary Kramer wrote:
>
> I have been day trading Spoos for about 5.5 months now and
> have a dilemma. When I first started out, I scalped the
> market and made 1-2 points per trade and was making money
> consistently. I was using retracements as the basis for my
> trades. Everything I read and everyone I listened to
> suggested that in order to succeed, i needed to let profits
> run. I noticed that I left a lot on the table so I
> investigated a whole bunch of other systems. Nonetheless,
> even though the systems worked, they did not work for me. I
> just couldnt let my profits run and I wasnt good at
> implementing the strategies. My confidence soured and I
> reverted back to the scalping to get my equity and
> confidence back. Again, I tried other strategies and
> failed. I am back to scalping and feel real good about
> it. I have a friend who guarantees that I will fail if i
> scalp. I have looked back at hundreds of charts and
> recognize that based on my strategy of buying or selling
> pullbacks, the success rate is near 80% with objectives of
> 1.5-2 points. The question is: can I make money? I have
> done so, am doing so now, but its bothering me that this
> buddy of mine insists that it cant be done. BTW, I always
> have a 2 point stop in! Any words of wisdom would be most
> appreciated! Thanks
>
> Gary Kramer,
>
>
> This is all about psychology and how one feels about oneself.
> Someone who has to be right a high percentange of the time is someone
> who needs constant re-inforcement that they are alright, i.e. a good
> person. But, which of the following is better: Is it better to make
> A. $2, 80% of the time or B. to make $6, 60% of the time, or C. make
> $10, 40% of the time? Assuming that the losses are the same for each
> profile, the answer is C. which has the lowest winning percentage
> because the probability times the expected value = the risk adjusted
> value or in this case 40% x $10 = $4 vs risk adjusted values for A. =
> $1.60, and B. $3.60.
> People who have trouble with this concept are often victims of
> the educational system which teaches that the key to be successful is
> being right. One can see from the above example how wrong that can be.
> The true paradign for trading is that
> IT'S OK BE BE WRONG, JUST DON'T BE WRONG FOR LONG. So, now one must
> make a philosophical decision as to what is more important, being
> right or making money. If profit is the ultimate goal and not ego then
> one will adapt to having a smaller percentage of winning trades in
> exchange for more money over time on the bottomline. To do this, for
> an experiment, see what happens on a minimum trade size, say a one
> lot, see what happens if you double your profit target, i.e. rather
> than going for $2, go for $4. Then keep track of both systems and see
> which one over several months is more profitable.
> Now, one last suggestion to Gary and a few others on this list.
> Last time I was tested, I had perfect eye sight and didn't need
> glasses. However, apparently when one posts on this list with a
> 10 point or smaller type and bunch it all together, it becomes very
> hard to read, barring my getting right on top of my 17" monitor and
> risking electro-magnetic radiation (no joke, I have tested my monitor
> for this.) Anyway, I would appreciation if you could increase your
> font to at least 12 points. This note is in 18 points to give my eyes
> a rest from the last few micro typers.
>
> Diagnostically,
>
> Norman - the trading doctor
>
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