Forum Archive Index - January 2004

["Woody" <solarmax@optusnet.com.au>]

Robin
It goes without saying, Good Moneymanagement is 50% of a good system. An
integral part of a successful system is When to trade, What price to enter
and what price to exit and most important of all : When not to trade. Cut
your losses and let your profits run.

We are all human.  We make mistakes. If I trade My System correctly 100% of
the time I would be a very wealthy man. Unfortunatly my humanity often
interjects at the wrong time. Suffice to say I have losing trades. But
fortunatly I am experienced enough to get out with a minimum loss. I trade
2% of my Account at all times. I use multiple contracts and when I have a
losing trade I often return to one or two contracts until I recover my
losses.
Works for me!
Woody
----- Original Message -----
From: "robin benson" <rob@hammerheadmedia.co.uk>
To: <sharechat@sharechat.co.nz>
Sent: Sunday, January 18, 2004 3:13 AM
Subject: Re: [sharechat] Probability Woody


> If you mean you must have discipline, then I agree.
>
> If you mean that you must follow your system over the edge of a cliff,
> against your better instincts, then that is quite another thing, and
> alltogether a more complex issue.
>
> Many successful traders say trade your system, but do so with very
> small amounts of capital, increasing the size of trades only when the
> system has shown itself to be successful. Also, risk management is
> frequently highlighted as a critical discipline ("don't bet the farm").
>
> Robin
>
> On 17 Jan 2004, at 02:36, Woody wrote:
>
> > What ever you do you MUST believe in your system ( whether its a coin
> > toss, reading the entrails of a goat or following the rules of WD Gann
> > ) AND you MUST trade your system consistantly,
>
>
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