A Trader’s Best Friend
Editor’s Note:
This Live From TradersWire was originally posted on 12/17/03.
Brice
Through thick and thin, the
one element that keeps you in the game is money management.
You might have the ‘best-looking setup ever’, but
without knowing where you are drawing the line in the sand, or in happier times,
the levels where you are willing to take some off the table–you won’t be around
long enough to appreciate the next greatest thing.
10:00:52
Reversal Setup
Dot Hill Systems (HILL)
has formed an
Opening Reversal TrapDoor. HILL is down 1.70 at 13.65 as it tests its 78%
retracement level from the October lows, as well as prior price supports within
its high level weekly base.
…and for better or worse on any individual
trade with well-defined edge–over the long haul, money management is definitely
‘as good as it gets.’