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To: Mark Johnson who started this subject	7/30/2000 10:30:05 AM
From: Jack Hartmann	of 164

Mino: It looks to me as though you bought good companies at a bad time (I do not know or trade the last two). Although I certainly can't guarantee it, you will probably catch up and get above water during the next bull run. Many of us expect a weak August and then a uptrend this fall. Don't feel alone on the gut check part. I know the feeling well. Pat's advice was great. Funny thing, I notice I get a lot smarter when I lose money. The "morning after" effect. One thing that has helped me is keeping a set of guidelines posted on the wall next to my computer. These rules work for me and may not apply to your situation or trading/investing style. I call myself a long term swing trader. That means I buy a position to hold long term. If it works, I buy more for short term trades. I'm sure other traders have their guidelines and I, for one would appreciate hearing them. Trading & Investment Guidelines 1) Take your loss! Don’t let an 8% loss turn into a 50% loss. It can and often does get worse. Loss is a safety line – would you fly w/o one? Remember tax loss season. (note - this pushes my pride over the edge and often allows me to take the loss - knowing that I'll be happy I did next April) 2) Money management - keep cash available for buying on dips. 10% average but increase to 25% as market rises. When you are out of cash, you are out of the game and at the mercy of the market. 3) Take profits! Isn’t that why you trade? 4) Be sure to take quick profits. Gift horse. Remember, dad earned $16 week working in a gas station. $200 in 5 minutes is a gift. Take it! 5) Look for uptrends – consult charts. This is not a yard sale. 6) No falling knives - CTXS 7) Don’t overtrade. Only your broker wins that game. 8) Rarely use margin and always close out margin before market close. 9) Remember why you entered a trade. Don’t let ST trades turn to LT trades. 10) Leave bad trades at the computer. No whining in trading! Your family is more important than any trades! 11) Sometimes the best thing to do is nothing. You will get another chance, quite possibly on the same stock. 12) Never mistake a bull market for genius. 13) Trading is hard work. People sweat when they do hard work. 14) You will make mistakes. Learn from your mistakes! Making rules/guidelines is the easy part. Following them is a different story. However, whenever I break one, I usually regret it. All the best, Baton ********************** A good summary. Jack

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