How I LOST $10,000

Hello Thomas,

thank you for taking the time to share the information and direction with us. It is appreciated, trust me.

I recently learned to not differentiate based upon price.

A lower price does not equate with higher profits or better market position or share.

All it seems to do, from what I have seen, is to condition your prospects and existing customers to expect youo to always have lower prices than your competition and as soon as you do not then you lose them as customers to your lowest priced competitors.

Strangely, prices are the first thing many many business owners cut in trying to salvage a losing situation.

I think price is the last consideration in positioning oneself in the marketplace, unless your price is going to be high.

As far as cutting your loses, I noticed you mentioned the stock market.

Years ago, I traded some of the slower markets because I love what I saw.

I learned alot but I think the best lesson I learned came from world class trader Paul Tudor Jones.

(I think I still have a video of him trading in his lucky sneakers and sweater.)

Mr. Jones stated that the market moves on two things and two things only.

Fear and greed.

I see this happening even today.

When the markets are up this simply means there are more buyers than sellers. When the market is declining this simply means there are more sellers on that day than buyers.

I agree.

I hate paper trading too.

The markets are pretty simple to figure out once you really study them for some time. The players that make it are in emotional self control and have a balanced view of themselves, their goals and lifestyles, etc.

As for cutting loses, though, Mr. Jones beleived strongly that in any endeavor you undertake, you must make money coming out of the gate. As in trading, your position must be right in the beginning.

If your position is incorrect initially then you were just plain wrong. I feel this is true in marketing also.

Well, I think I have babbled enough, again we thank you for your insights.

Taylor


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