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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST
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To: Temple Williams who wrote (63598)12/3/2000 11:23:50 AM
From: Daveyk  Read Replies (1) of 99985
 
Excellent contribution.This has been my first full year as a full time trader and I've made just those mistakes.Fortunately only with a couple small positions in LU and MOT.I had my sell signal on both;LU at 39 from 41 entry and MOT at 33 with 35 entry.
I ignored both because"they were small trades and I'll hold them for years."It will not happen again no matter the company a trade is a trade and the dollar amount being small still doesn't make for a smart business practice.Guess maybe now I'll graduate from the school of hard knocks.In my case I find a little paranoia helps me trade better and booking an early profit feels better than a small loss.I have learned to usually let winners run and sell losers quickly but usually now has to become always sell the loser quickly.A quick few points profit may only turn out to be only a 1/2 point profit but it should never turn into a loss.Learning this the hard way too.ggg
It's good to learn from others mistakes but I'm finding that my own leave stronger impressions.That discipline is easy to forget when things go too well.I appreciate those who share their methods and even more so their failures that we all might learn the <easy way.>

Dave from da school of hard knocks
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