Was it insight or courage that gave you the willpower to hold on?Desperation, mainly, although there was a support point on the charts that the market couldn't seemto take out. So, I held on. At the end of that year, the $700, which I had ran up to over $ 12,000 andback to under $4,000, was now worth $24,000. After that scary experience, I never reallyovertraded again.The next year, 1973, the government began lifting the price controls. Because the price controls hadcreated numerous artificial shortages, when they were lifted, there was a tremendous run-up inmany commodities. Just about everything went up. Prices doubled in many markets, and I was ableto take advantage of the tremendous leverage offered by low futures margins. The lessons I hadlearned from Seykota about staying in markets with major trends really paid off. In 1973, myaccount grew from $24,000 to $64,000.
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