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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Joshua Corbin who wrote (795)11/20/2000 7:19:14 PM
From: tradermike_1999  Read Replies (3) of 74559
 

So you never take small losses?

You miss my point. Why should someone take small losses and miss the opportunity on gains later? The urge to sell is greatest at the bottom.

I'd rather take a small loss then be forced to take a big one later. Some stocks drop to 0. I know people who bought and have held on to garbage like ETYS from 70 to 1.50 because brokers, analysts, and wild dreams turned them into Internuts.

Well one shouldn't make investment decisions based upon urges. Everytime you buy a stock you should already have a plan set in advance on when you sell it. Else you will end up selling off of urges or else holding on to total duds because you have a hope that it can go up and break even or else a fantasy that it will make you wealthy.

You don't really seem to have such a plan. I've asked you when would you cut a loss and admit a mistake and your only answer is that you can't sell because it might go higher.


Bigger gains on the short side though.

...along with infinite upside risk.

I've never shorted a stock and seen it go up to infitity. Nor have I had such a loss that it ruined me or caused a major setback. That's why you take small losses and uses stops and risk management techniques. Get any book on investing and trading and the first thing they will stress is cutting your losses and keeping them small.
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