Your Worst Trading Enemy.. You Message Board

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Strategies & Market Trends : Your Worst Trading Enemy.. You

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To: Sharck who wrote (4)	1/15/2001 2:42:04 PM
From: shawnwolff	Read Replies (2) of 223

I wholeheartedly agree with you Sharck! In case you were challenging me to that bet, yikes, no thanks! I cringe at the thought of having to try. I am not a very fast person to be honest, and executions are not my forte. I tend to make more careful trades with larger potential. That way I can justify stops that are large enough where I know I can keep them. The exact amount is very relative to the size of the stock and the situation. On a very small stock I can keep 1/8 pt stops, but in those cases the potential is usually much smaller. I often keep 1 pt. stops on larger stocks, if I know the potential is adequate. The size of stops in my opinion, is very relative to potential of the trade. I also reduce the size of shares to an appropriate level in relation to the stop. I am not saying that I do not admire the type of level 2 jock that can "scalp teenies" with 5K shares, I just think that it is important to match strategies with your personality, and I am usually the first to recognize my weaknesses. - Shawn

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