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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Dave Shares who wrote (4604)1/9/2000 11:42:00 AM
From: arno  Read Replies (1) of 9427
 
Dave,

Your question:

Should I have stopped myself out of this trade above my entry point of 24 1/2, so as not to let a winner turn into a loser, or should I let the trade continue since the original trade stop of 22 has not been hit ?

I guess this is where you need to decide if this money was "trading" or "investing" capital.

If I was trading and had a 10% or so gain in a day or two, I would have sold at the first sign of a breakdown. You need to be nimble.

If I was investing, and the stock was still in the "plan" I would keep it until it violated the "plan".

When I'm "trading" I only have one stock I'm watching continuously. On very rare occasions I will have two.

It's a tough question and I'm interested in the replies you get, too. I think every investor/trader suffers from this dilemma.

arno
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