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Strategies & Market Trends : DAYTRADING Fundamentals
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To: cloudless who wrote (5332)11/11/1999 7:05:00 PM
From: E. Davies  Read Replies (1) of 18137
 
I have through painful experience developed a system so I pretty much know exactly when I want to cut losses and learned to accept that as part of the process. I've even learned to be happy getting out flat if the trade doesnt start to unfold in a reasonable timeframe.

My real problem is when due to a breakdown in my tools or simply not being able to get a fill the trade falls outside my "cut losses" level. Thats when I start acting like an amateur all over again.

Its much harder at that point, You feel like dumping and taking the medium size loss. But then maybe not- I wonder would I have entered the position at this point vs. exciting? Do I expect the stock to hit resistance another 1/4 point down or so? Should I wait for that & see if it bounces? Should I average down? etc..

Eric
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