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Are we using a little reverse psychology here?

LOL, well I study human nature and I know it's killing you not to tell me.:D

I know you shouldn't trade the sky is falling but you still have to cover your butt good enough so if it does fall you don't lose everything you have worked hard to gain.

Again, more psycho-analysis on your part. You really should stick to what you think you know. I picked the name holygrail because the only true holygrail is position sizing and risk management. Everything else is just temporary success or failure. The markets change and what worked last...

LOL. Ok, let's say the oil industry is inversely related to the airline industry(which it probably is). If the market tanks they are both going to go down. My risk is still more isn't it?

Well I can see if you trade two instruments that are inversely correllated you will reduce your risk, but at the same time wouldn't that reduce your profits as well?

Thank you. I will read up on that right now. Sounds like gobly-gook to me, but I do have an open mind.l I always thought there was correlation or no correlation. I've never heard of anti-correlation, but I certainly will read up on it.

Please enlighten me. If you trade with more money than you have in your account you are risking more money than you could have risked if you traded within the boundaries of your account. That sure looks like more risk to me.

Well let's see the arrogance. Sorry, but I didn't know this was a race to see who could make the most money the quickest. If you make it quick you can lose it just as quick regardless of what you seem to have convinced yourself. and here's one Leverage is leverage, PERIOD. If you...

LMAO. Yes you tell him what is best for him. Let him know what a loser he is for being conservative in his money management. If you are going to call someone a moron at least know how to spell it otherwise who do you think looks like THE moron? I didn't come to the thread for any other...

Well the only reason I ever entered the latter part of this thread was due to the advice given to LondonUsTrader by Mschey and I quote. I personally felt that was so presumptious on his part to chastise someone for staying within their own risk tolerance. There are many ways to make money...

Yep, I realized I made a mistake when I posted that and added this to my post.

What a great quote.:)

LOL, you know what I mean. If I set a mental stop loss before I enter a trade and it gets hit, I get out of the stock. I don't change my mind and buy more hoping to get out at half the loss. You can always re-enter the stock. Commissions are very low. Why risk more money when the market...

I totally agree. If you take a large loss then you obviously didn't have a plan when you entered the stock. I would also add that if you add to a losing position you are more concerned about being right than making money.

I cannot disagree with this statement. After all, I used a great deal of leverage to increase my business. I think the key is to protect a good portion of your profits and not live off of them. If you are making 100,000 a year trading and spending 100,000 per year living you will eventually...

Yes he did, but 5 years is not a career. We grew our business from 0 to 22 million in sales during the first 6 years. It was done with an initial risk of 50,000 in capital and bank loans which eventually reached 1.5 million. We did not change our lifestyle and we continued to plow all of...

Who knows, you may be the best trader on the board but at some point in time you will lose big with this philosophy. My personal wealth has come partially from trading, and 80% from owning my own business. Yes 80% of all businesses do fail in the first 5 years. Why? Normally because at...

Thanks for the gift, but I am already rich. What should I do now? Should I try to lose everything I have so I can gain it all back with your tip of the century?

It had a nice double bottom but this stock is not out of the woods until it moves above 20.30.