%%- ---Phantom's Gift--- Phantom of the Pits, or POP for short, who many guess is actually the lengendary trader Richard Dennis, occassionally would appear on discussion forums. "Trading is a run-run game. There are times you have to run before they run. That way there is less chance the market will out-run you," said POP in an interview. I think the principle applies to all time frames. He also said the best loser is the long term winner. He's saying one should remove losing trades early and quick. Avoiding big loss is the key to staying in the game. I'm with ya, Phantom! %%- At 5 AM, now, that is, there's this sudden urge for some ice cold Coke. None in the fridge but reluctant to go out. Should've gone to bed at 9. Did doze off then. But now need tranquilizer in order to sleep. This is like profit-taking in trading. When it's time to take profit, take it.
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