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You have given one persons solution. Everyone has there own trigger that tells
them when to pack it in and go and enjoy the fruits of ones labor. Trading is
one of the most unsatisfying endeavors there is. You do not create anything, you
do not benefit anyone else's situation and you do not contribute to society.
Yes! you can make a lot of money. That in itself is not very fulfilling after a
while. If you are successful as a trader, go out and enjoy yourself, give
something back to the community and to your family. Most traders just plug away
and make a little bit each week. Of course ones little bit might be
substantially different then someone else's little bit. I have found that many
of the big hits have been made, not in the planning, but by a position that at
one time was considered worthless. Whether it is the challenge or the fight for
survival, take the time to reflect on your situation. The one thing that I liked
most about being a market maker or a trader was that I could shut down at anytime
and go where ever I wanted and do what ever I wanted to do. Both the body and
the mind need a change and regeneration. The one thing you can count on is that
the market will be there when you get back. Have a good holiday season. Ira.
BUBLS@xxxxxxx wrote:
> Brian,
> When I first came to the CBOT as a floor trader one of the traders I got to
> know was a very successful guy and he he told me how he handled the very
> problem you mention. He told me that over many years he had developed a
> couple of rules: If at any point in the trading day he was down over 2000.00
> he would flatten his position and go home because his observed tendency was
> to press to get his losses down and inevitably he made the loss worse. If at
> any point he was up by more than 4000 he would ease out of his position and
> as soon as he was flat he would go home because history indicated that he
> tended to be over willing to bet his winnings in hopes of a big score and
> inevitably he gave back profits instead. His point was that for him those
> were the levels where he began to trade his money instead of the market and
> that was fatal. I found this to be a very useful lesson although obviously we
> all have different levels at which these kinds of deleterious behaviors
> effect us.
> Good luck finding your own levels. Stay alive, the market will be open again
> the next day.
> Bruce Lawrence
>
>
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