Wednesday, June 30, 2010

Wednesday PM Notes - Grinding It Out

Here's a quick late night video follow-up to today's earlier post discussing my strong views of needing to "grind out" trading profits (as opposed to your teeth) to use as the only source to replenish trading losses.

It's been one of the parmount reasons I've been able to stay in the game and prevent any hint of a death spiral which has sabotaged so many traders.

As for the short-term trade-off in terms of immediate profits as the result of reduced size?

Well, I'll take "Trading for the Long Term" for $1,000 Alex.

At this end, history has shown that such a choice always results in the Daily Double.

4 comments:

Graham Thomson said...

uncanny Don - timely post i have just ground out a 2.8% recoup of my trading capital during June. here's to the new quarter.

RoachApproach said...

This one belongs to your key posts!

Cheers,
Markus

nursebee said...

I caught the name of Livermore but not the name of the other one that blew up, will you please post it?
Thank you.

kfergus said...

I'm not Don, but:

Archie Karas (born Anargyros Karabourniotis)
http://en.wikipedia.org/wiki/Archie_Karas

Jessie Livermore
http://en.wikipedia.org/wiki/Jessie_Livermore