Hi Forrest, how are you mate?
Im only on HC for short bursts now, as per all the probs I have logged under "feedback".
Theres a great book about risk/reward just come out from an aussie author.
its called Mastering Risk- by Mike Lally, published 05/2002 and it suits the analytically minded and advanced trader.
Still the alltime classic on this subject has to be The Education of a Speculator- By Victor Neiderhoffer.
As I may have mentioned, my trading partner is an ex-casino manager and former card counter turned Tech Analyst and its amazing the things he comes up with about money management.
His (and BlackScholes/Mertons)1st rule is "dont trade without an edge" - a variation on the old "the house will grind through a sack of gold". In other words, if you dont have some advantage in knowlegde, info, ideas, etc then you will be broke sooner or later.
My experience at TMO talking to thousands of punters and watching them lose slowly, has indeed proved that you can open any position(s) at random, and show a profit if you understand risk/reward or money management. (Im not saying that I can do it, just that its possible in theory).
If I didnt have a trading partner, I would have given up long ago.
Stay well. I hope CST flies for you.
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