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Pastimes : Rules We Can Learn From

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To: Dwight E. Karlsen who wrote (36)	4/26/1998 2:09:00 PM
From: jjs_ynot	Read Replies (1) of 109

>>> When you realize that the reasons you bought the stock are no longer valid or you were flat wrong, SELL at the open, at market, NOW! <<< That's my number one rule and the one I have the most difficulty following. Establish a position closing discipline before making a trade. Reevaluate your position every day. If you wouldn't enter the position today - GET OUT. I've watched too many trades go against me big time when I could have gotten out at a small loss that I wasn't willing to take. I think the human psychology has trouble with admitting a loss, even a small one. On options, as much as possible buy intrinsic value and sell time premium. Also, on options don't make a trade that only a favorable bid/ask spread will allow you to eventually get out with a profit - they rarely occur. I love the idea of parceling capital into 10 increments and am going to try that. Great Thread

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