The All-American TraderQ: So that kind of methodology, where you have a single entry,
single stop, no doubling down, no averaging down, stayed with
you? Do you still follow that methodology?
A: Absolutely. I do. To a T.
Q: So you’re trading E∗TRADE. How long did that go on for on
your dial-up connection with a single laptop screen?
A: [Laughter.] I know you laugh about that. I do too. I can’t
believe what I did on that dial-up. I’d get kicked off and have
problems getting through on execution. It’s crazy but I did it until
May 2000.
Q: So that was about two-years’ worth, and how much did you
run up the account at that point?
A: Let’s see I started at 85 and took it to 490.
Q: So you quintupled you account.
A: Yes.
Q: Now comes the year 2000. This is pre-Nasdaq crash, right?
A: Yes, pre-Nasdaq crash. I pretty much got stopped out of
everything and was at all cash.
Q: How were you managing your stops at that point? How were
you trailing them up?
A: Candlesticks. Just a little bit below the last candlestick, like if
it was a green. Obviously there were green candlesticks back then.
I put the stop just below that day’s low.