Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: Vitalsigns who wrote (20225)	8/5/1999 11:15:00 AM
From: the Chief	Read Replies (2) of 62348

So that the individuals do not think they are alone.... I have now received 3 PM's from individuals who have not been using stops and, as a result, have sustained losses in the last few days. One of the losses was very very high! There is no argument as to whether "stops" are a good thing or bad thing, nor whether they are needed or not needed. Greater minds than ours have stated from day one that stops are to used if you wish to survive as a daytrader. There is no debate to the issue. Keith and I have broken that rule at least once (if not more) in our daytrading lives and can vouch that it was a "non-brilliant move" (substitute stupid if you wish)! I will reiterate for the thread once again STOPS STOPS STOPS! If you are being taken out by them only to see the stock turn-around and leave without you....that is a normal byproduct of daytrading. If it happens too many times, then analyze the spacial distance you are setting for your stops. But, at notime, decide not to use them because they are "ruining" your daytrading life! Because I can assure you all, if you continue not to use them....you won't be a daytrader much longer! Keith and I will be talking to ourselves......it would make for a boring daytrading thread! In MCF at 5.80 for 1K, waiting to see if it finds support here....it should be who knows.....and yes, my stop is in! Dennis

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