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Strategies & Market Trends : Tech Stock Options

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To: Kevin who wrote (30788)	12/10/1997 11:31:00 AM
From: Tom Trader	Read Replies (2) of 58727

Kevin and Lisa -- your postings about egos and how it affects ones trading is the truth I think that the most important thing a trader should realize is that having losing trades is an inherent part of trading. One cannot be a trader without having losing trades --- the real objective however is to make money and so if one makes more money on winning trades than one loses on losing trades then that is what matters. However, when the ego comes into play one is more concerned with each trade being a winner -- which is really irrelevant. When trading futures, my exit points are defined for me -- and as long as I follow the system there should be no confusion on that score. When trading stocks and options my exit points are not as well-defined and if I look at my losing trades what is clear to me is that more often than not the problem has not so much been with the entry but my failure to exit properly -- and I am not just referring to losers but also winners where I held on too long. I have been trying to get into the habit of placing an exit order--GTC-- as soon as I enter a position especially on options.

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