Unacceptable drawdown - can kill (zero) your trading acct if you're not careful. Rather than cutting losses and waiting for the market to turn, vendor chooses to hold onto certain losing positions (08/22/07 @WZ7) hoping they will come back. Vendor's reasoning - "the more draw-down, the more they will rebound to profit!" In reality, large draw-down demonstrates the vendor's inability to time the trade properly and, more importantly, the vendor's inability to manage money and risk.