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Pastimes : G&K Investing for Curmudgeons
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To: tekboy who wrote (2140)5/11/2000 4:48:00 PM
From: Uncle Frank  Read Replies (2) of 22706
 
>> My earlier mistake was not in buying naked calls in the first place, but in failing to sell them at the right time and take profits when I had them.

But how will you know when "the right time" is this time around?

The lesson is that you will never know.

The solution is to set a target at the time of entry, and have the discipline to sell when you hit it. No resetting the target allowable.

Until you understand that at a visceral level, you're the putz at the poker table wondering who the sucker is.

cuf@arephdseducable?.edu
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