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Kevin,
I'm just starting Van Tharp's Trade Your Way to Financial Freedom. The
April issue of TASC has a good interview with him. He calls money
management "position sizing". You can have 80% winners and only 20% losers,
but if those losers run, that 20% can wipe out the 80% and more. That's
what happened to me, so I'm eagerly jumping into the book. He also has a
website: www.iitm.com.
Good luck and please share any new found wisdom!
Linda
Swope's Mountain Photography
http://www.swopephoto.com
linda@xxxxxxxxxxxxxx
Climb the mountains & get their glad tidings: Peace will flow into you as
sunshine into flower; the winds will blow their freshness into you & storms
their energy, & cares will drop off you like autumn leaves. John Muir 1838 -
1914
-----Original Message-----
From: Kevin Shin <kalalex@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, March 24, 1999 10:22 PM
Subject: GEN: MM & Psychology
>
>Today,,,I found myself hesistate to get out of market with a good
>profit,,,,instead waited for bigger profit,,,then gave back most of it.
>I heard about this story many times,,,,and experienced it myself many times
>too.
>I was re-reading StreetSmarts again today afternoon,,,and hit this phrase
"3
>most important ingredients for successful trading are entry method,
>understanding psychology and money management".
>Most of us start to find perfect entry method,,,,instead of training and
>educating ourselves about psychology and MM.
>I'd like to start all over again from more important things,,,psychology &
>MM (in my opinion).
>I have Douglas' Disciplined Trader to educate myself about the
psychology,,,
>but never paid attention to MM.
>I wonder if there's anyone out there who read good books on MM, come
forward
>and recommend.
>Thanks,,,
>
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