From the Trading Desk Bloopers and Blunders Message Board

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Strategies & Market Trends : From the Trading Desk Bloopers and Blunders

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To: steve goldman who wrote (5)	6/16/1998 7:36:00 PM
From: Mary A Young	of 20

Did anyone other than myself find today to be a bit tough.....other than GMGC? I did something today that I really thought I would regret. At the time the momentum seemed to be there, but I went into KTEL at 14 3/4. Down it went. Because of disruptions, mainly phone calls, I didn't watch it as carefully as I normally do and normally I would get out when it went against me with 1/16 or 1/8 stop. Anyway, it did get away from me. I simply decided I'd hold it at that point until it did some recovery. Normally this is TOTALLY against my rules. It even occurred to me that I might take it home. UGHS. And KTEL did make several attempts at recovery. At the close today, I was able to get out at 14 7/8. Some buying came in and I got out. +1/8. Nicest eighth I think I made all day. I learned a lot of lessons from this one as well. 1) Stay off the phone while in a trade unless you are REALLY good. 2) Follow your rules......don't compromise. Your food digests better. 3) Don't count on this happening every time cause when I was paper trading, I lost almost every time without exception. Wonderful new thread, Steve....it should be bookmarked by every beginning daytrader. Mary

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