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Technology Stocks : EFAX.com - easy-to-use fax-to-email technology
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To: Jon Stept who wrote (461)3/16/1999 10:27:00 AM
From: Ms. X  Read Replies (3) of 1197
 
Hi Jon,

I agree with you completely but how would you sell at the top?
No one can ever tell what the top of a stock would be so the best way to protect profits is to put the 'ole stop in. Yes, you may not get a run up but you locked in your profits and no one ever lost any money taking profits. Never.

What if. That is what traders deal with. What if.
What if your stop was hit at 4 points down and then the stock kept dropping? You sold at (just pulling a number) 28 and the stock then continued to drop to 15? You and everyone else would think you were freaking genius. You have a nice profit.

What if you didn't have a stop and you didn't have a stop and it fell to 15 from a high of 33 with a cost basis of 20? You'd be commiserating with all the other people that happened to and looking at a loss.

What if you did exactly what you did and have a nice profit sitting in your pocket but the stock continues up? YOu made money and it sure is better than What if number 2.

I know I'll get lashed about by some for these comments but just think of the psychology. IF you are constantly worrying about getting the top or bottom price, you probably mismanage trades consistently. A trader is always his worse enemy.

If you got a good profit say hallelujah and go find something else OR, hold the cash and wait for EFAX to come back. It will.

There are always trains pulling out of the station. Don't pine over the one you lost, you might miss the next one..

Take care,

Jan I am :-)
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