Sunday, March 27, 2005

Coin Flippin Trading

So there I was..reading the latest from the cheese and found out about the Coin Flipping Trading and had to check it out. Sure enough and the last line is a classic, "Dana, can we see the price bars" The answer is NO. But after having a little laugh there is a very important point here. Money Management is the real key in trading and if you are having problems this is the area you should be spending more time then looking for a next perfect filter....all kidding aside.
Poor money management causes a whole host of problems. Fear to take a trade, fear of losing money and fear that profits will slip away so you cover early for dimes instead of dollars.
You might want to check out the Kelly formula if you don't understand that I am talking about. At workshops I do, this is the first thing we go over....not the last thing if we have time..it's that important.

Accidents do happen, that is how I got here.....

Last week, this chart was posted "by accident" but can't for the life of me figure out how those paint bars got into esignal. Maybe I need to layoff the donuts for a while until my sugar comes back under 200. Could someone be trying to copy my work...what a nice compliment.