Long Term Secrets To Short-Term Trading [PDF]

Summary
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Long Term Secrets To Short-Term Trading – Book

My extraordinary performance attracted lots of money for me to manage. Lots of money, and then it began to happen: the other side of the sword flashed in the sun. Amidst trying now to be a business manager (i.e., running a money management firm) with precious few skills at doing something I am no good at anyway, my market system or approach hit the skids, with a cold streak that saw equally spectacular erosions of equity.

Whereas I had been making money hand over fist, I was now losing money, hand over fist! Brokers and clients screamed, and almost took the off-ramps, they simply could not handle this type of volatility in their account balances.

My own account, which had started the first of the year at $10,000 (yes, that is $10,000.00) and reached $2,100,000… got hit along with everyone else’s… it too was caught in the whirlpool, spiraling down to $700,000. About then, everyone jumped ship but me.

Hey, I am a commodity trader, I like roller coasters, is there another form of life? Not that I knew, so I stayed on, trading the account back to $ 1, 100,000 by the end of 1987. What a year!