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[USER=73740]@Trav.[/USER] comments on pyramiding into winning positions referencing quotes from the book "Trade Like an O'Neil Disciple: How We Made Over 18,000% in the Stock Market" gives food for thought as he mentioned that discretionary entries over the last couple of weeks has seen some positive results, going on to say it's worthy of looking into having less open positions.

It's worthy to remember
The direct quotes are from the disciples of O'Neil who went on to make 18,241% over a 7 year period from January 1996 to December 2002 - In terms I can understand, this works out be be just over 110% annualised over the 7 years, not bad at all. But, there is always a "but" - but to achieve this result they had to endure a few "massive drawdowns" including one un-stomachable drawdown of over 50% in 1999. ("ouch")

Helpful quotes
It's pleasing to see quotes being made in the 'Dump it here' thread that has the ability to influence thinking on a deeper level. Also, it's timely to reflect that "all advances" in any field comes off the shoulders of others who have come before & trading is no different.

Personally I'm not in alignment
I don't align myself with the views expressed above about "pyramiding into winning positions" - Micro-managing positions or discretionary trading "it's just not for me" - The 'Dump it here' thread is about expressing alternative ideas not contesting them.

From my experience
It pays to listen to everyone & by doing so you decide if it’s relevant or helpful to you, allowing you to decide what information to keep & what to discard. "When you don’t listen you forgo the right to learn"

Another useful quote from the book
"It is important to stick with a winning strategy, in good times and bad. I have lived with my strategy since 1991. This gave me the confidence to stick with it even during the treacherous second and third quarters of 1999. I never lost sleep during this period, nor have I ever lost sleep over the market. The key is to always understand why one is making or losing money. That said, periods of steep drawdowns are part and parcel of trend following. It is critical to stick with the strategy in both good times and bad. As shown by Dunn, Henry, O’Neil, and other successful trend followers, the profits made during the good times more than make up for the losses during difficult, trendless periods". (my bolding)

Skate.

<blockquote data-quote="Skate" data-source="post: 1057721" data-attributes="member: 57364">[USER=73740]@Trav.[/USER] comments on pyramiding into winning positions referencing quotes from the book &quot;Trade Like an O&#039;Neil Disciple: How We Made Over 18,000% in the Stock Market&quot; gives food for thought as he mentioned that discretionary entries over the last couple of weeks has seen some positive results, going on to say it&#039;s worthy of looking into having less open positions.It&#039;s worthy to rememberThe direct quotes are from the disciples of O&#039;Neil who went on to make 18,241% over a 7 year period from January 1996 to December 2002 - In terms I can understand, this works out be be just over 110% annualised over the 7 years, not bad at all. But, there is always a &quot;but&quot; - but to achieve this result they had to endure a few &quot;massive drawdowns&quot; including one un-stomachable drawdown of over 50% in 1999. (&quot;ouch&quot;)Helpful quotesIt&#039;s pleasing to see quotes being made in the &#039;Dump it here&#039; thread that has the ability to influence thinking on a deeper level. Also, it&#039;s timely to reflect that &quot;all advances&quot; in any field comes off the shoulders of others who have come before &amp; trading is no different.Personally I&#039;m not in alignmentI don&#039;t align myself with the views expressed above about &quot;pyramiding into winning positions&quot; - Micro-managing positions or discretionary trading &quot;it&#039;s just not for me&quot; - The &#039;Dump it here&#039; thread is about expressing alternative ideas not contesting them.From my experienceIt pays to listen to everyone &amp; by doing so you decide if it’s relevant or helpful to you, allowing you to decide what information to keep &amp; what to discard. &quot;When you don’t listen you forgo the right to learn&quot;Another useful quote from the book&quot;It is important to stick with a winning strategy, in good times and bad. I have lived with my strategy since 1991. This gave me the confidence to stick with it even during the treacherous second and third quarters of 1999. I never lost sleep during this period, nor have I ever lost sleep over the market. The key is to always understand why one is making or losing money. That said, periods of steep drawdowns are part and parcel of trend following. It is critical to stick with the strategy in both good times and bad. As shown by Dunn, Henry, O’Neil, and other successful trend followers, the profits made during the good times more than make up for the losses during difficult, trendless periods&quot;. (my bolding)Skate.</blockquote>

[QUOTE="Skate, post: 1057721, member: 57364"] [USER=73740]@Trav.[/USER] comments on pyramiding into winning positions referencing quotes from the book "Trade Like an O'Neil Disciple: How We Made Over 18,000% in the Stock Market" gives food for thought as he mentioned that discretionary entries over the last couple of weeks has seen some positive results, going on to say it's worthy of looking into having less open positions. [B]It's worthy to remember[/B] The direct quotes are from the disciples of O'Neil who went on to make 18,241% over a 7 year period from January 1996 to December 2002 - In terms I can understand, this works out be be just over 110% annualised over the 7 years, not bad at all. But, there is always a "but" - but to achieve this result they had to endure a few "massive drawdowns" including one un-stomachable drawdown of over 50% in 1999. ("ouch") [B]Helpful quotes[/B] It's pleasing to see quotes being made in the 'Dump it here' thread that has the ability to influence thinking on a deeper level. Also, it's timely to reflect that "all advances" in any field comes off the shoulders of others who have come before & trading is no different. [B]Personally I'm not in alignment[/B] I don't align myself with the views expressed above about "pyramiding into winning positions" - Micro-managing positions or discretionary trading "it's just not for me" - The 'Dump it here' thread is about expressing alternative ideas not contesting them. [B]From my experience[/B] It pays to listen to everyone & by doing so you decide if it’s relevant or helpful to you, allowing you to decide what information to keep & what to discard. "When you don’t listen you forgo the right to learn" [B]Another useful quote from the book[/B] [I]"[B]It is important to stick with a winning strategy, in good times and bad[/B]. I have lived with my strategy since 1991. This gave me the [B]confidence[/B] to stick with it even during the treacherous second and third quarters of 1999. I never lost sleep during this period, nor have I ever lost sleep over the market. The key is to always understand why one is making or losing money. That said, periods of steep drawdowns are part and parcel of trend following. [B]It is critical to stick with the strategy in both good times and bad[/B]. As shown by Dunn, Henry, O’Neil, and other successful trend followers, the profits made during the good times more than make up for the losses during difficult, trendless periods".[/I] (my bolding) Skate. [/QUOTE]

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