Cents and Sensibility - Kimberly and Friends' Consortium Message Board

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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: Giraffe who wrote (67664)	1/27/2000 12:26:00 AM
From: Autumn Henry	Read Replies (1) of 108040

I agree as long as it is realistic for the stocks movement. I focus instead (I think sometimes patience is b.s.)....on better entry in my thinking. Patience to me is trailing a move with a stop and not getting too close if it appears to be moving in a good pattern. I think sometimes "patience" can be used synonomously by a trader for sloppy or generalized entry ..... or wanting it before it was ready(riper)....or guessing wrong and not wanting to sell out at a loss cause some day it will come back .....I personally admit to being most guilty of what is called in trading as promiscuous entry as my most glaring entry malfunctioning. so I pesonally work on the other end and say.....Autumn.....how can you determine better entries? And I set to work solving that every day so that I can focus on being "patient" with trailing stops... the problem I see with "patience" if used with sloppy is three things I can think of: 1. what if it "doesn't" come back this time (see ASDS for example)and additional losses just keep coming and now you have the trading "no, no"---letting a small loss run into a big one 2. the emotional stress of a "patient" losing position and how it distorts your mind--(see Mark Douglas of "The Disciplined Trader" for the mind games of a position like that) and your thinking no matter how pro you are as it colors every trade and every decision 3. Your capital is tied up for how long and how many other opportunities are missed? It is bitchy hard to be rather surgical in a realistic for the way a particular stock moves way (some have bigger spreads at different times)--but I would think it has many many benefits ultimately. You can always "get sloppy" later and loosen your trading belt but it is awfully hard to get tight and aim for the mark if you are used to thinking that you were a genius this fall in the sloppier zone and let's face it---there is more fussy trading than sloppy trading during the year. This type of market really cuts to knowing if you are any good and what you need to learn to get better---and fast without alot of $$pain. And in the late fall you could be "sloppier" and get away with it......well in this type of market---that type of trading will do something else--- put you out of business or deplete terribly your funds and morale and cause alot of psyche pain of which either one you won't recover from overnight. Autumn

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