Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Warpfactor who wrote (67249)	5/28/2000 9:44:00 AM
From: Big Dog	Read Replies (2) of 95453

Warp, That rule of never selling a stock for a loss is NOT a good rule. Some would say that is one of the worst possible rules you could adopt. As I wrote so often in ODB, it is important to always plan your trade and trade your plan. You should know what you will sell the stock for on the up side as well as on the down side before you enter the trade...and stick to it. Maybe your plan is to adjust the sell points higher as the stock moves higher, or maybe you have a fixed sell price on both sides. The ability to cut losses short before they grow to be larger losses is very important. To say you never sell a stock at a loss can be very expensive as well as createe 'dead money' while you wait months or years for the stock to come back. Selling is the hardest thing to do -- when stocks are up OR down. How many times have folks violated the rules that they KNOW are the best thing to do? Look at investing as if someone has hired you to manage your account and if you don't follow the rules you get fired. Might help. Just my two cents. big

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