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In a message dated 04/12/2000 9:35:56 PM Pacific Daylight Time, ist@xxxxxx
writes:
> Old adage. Never add to a losing trade.
Ira
I respect your work a lot, but I'd like to say that adding to a losing trade
is what makes scaletrading work. When done with proper choice of commodities
(which will never go to zero), and done carefully within the framework of an
adequate (yes, there's a rub!) capital base, and done with patience, it can
eventually be quite profitable. Take recent examples of cotton, orange
juice, and sugar. If I could pick a bottom, I could position trade. Since I
can't, I scaletrade. All that said, there are still many pitfalls.
Larry
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