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2

Why Traders Win r

♦ Develop Specific Procedures (< *-)

♦ Have a Defined Operational Methodologv(/) A

♦ Understand How your Trading System Works

♦ Be Sufficiently Capitalized

♦ Dont Take Quick Profits (unless day-lradng)

♦ Begin Using a System after it Draws 1 [ fjj

♦ Be Willing to Accept ior more Consecutive Losses

♦ Dont Think Too Much

♦ Dont Set Specific Price Targets-sfvbuji lUjif-d:

♦ Dont Believe the "TIfflht Stop Loss" Myth-Vw , ,

♦ Play Your Own Game - Avoid the NEWS

Figure 1-6: Why IVaders Win



Outside Day Pattern

0 2> ftb

0 I/

Figure 1-7: Outside Day Pattern

owe



Crude Oil Track Record

CRUDE li9ht

p»tt»rn: l02<lci > 1 >

Fro* 1985 thru 1994 Konths: JUN DEC

Buy. S*ll: Z60 -3top: 6.00 (Percent, Closing)

11/01/9* 11:*l;37

Entry

Exit

Month

Dat*

Price

Oat*

Price Change

+/-

Cue profit «

32/07/85

05/S1/85

1180

neo.oo

07/23/85

10/11/85

2440.00

3620.

08/21/85

11/11/85

3500

7ieo.oo

09/03/85

11/19/85

3.70

3700

10820.00

C9/25/85

11/19/85

3430

14300.00

10/08/85

11/19/85

2680

16980.00

03/18/86

03/20/86

-850

16130.00

04/02/86

05/19/86

544C

21570.00

10/02/86

10/13/86

-940

20630.00

03/31/87

05/18/87

136C

21990.00

07/15/87

08/19/87

-1240

23750.00

03/13/88

05/19/88

1300

22050.00

Ot/17/89

04/10/89

2730

24760.00

02/01/89

04/25/89

4610.00

29390.00

02/02/89

04/26/89

4300

33690.00

02/27/89

05/18/89

2870

36560.00

08/31/89

11/16/89

1230

37790.00

09/11/89

11/16/89

590.00

38380.00

10/10/89

11/16/89

-150

38230.00

01/25/90

C4/09/90

-1240

36990.00

07/10/90

10/01/90

18429.99

55*19.99

09/27/90

10/02/90

-2290

53129.99

01/07/91

01/17/91

-1440

51689.99

03/04/91

05/20/91

1840

53529.99

03/13/91

05/20/91

1730

55259.99

07/3:/91

10/21/91

2500

57760.00

10/03/91

11/19/91

-530

57230.00

02/01/94

02/14/94

-960

56270.00

04/21/94

05/19/94

1820

58090.03

05/02/94

05/19/94

1280

59370.00

Figure 1-8: Crude Oil Pattern



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