Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 267.87

-0.6%

Dec 5 9:30 AM EST

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To: John Trader who wrote (47881)	6/13/2001 12:04:35 AM
From: advocatedevil	Read Replies (3) of 70976

RE: "Let me know if you have any comments or suggestions." John, My style of short-term trading is similar to yours (except of course I'm currently focused on the "dark side"). I use a little bit of everything in timing my trades (TA, FA, indices, news, economy, sentiment, etc.), but mostly it's gut feel. That can be dangerous. Last month, gut feel caused me to over press a losing AMAT short play. While I was very lucky and ended the trades at overall break-even, I should have simply covered my original position for a loss. I went beyond my self-imposed guidelines and put too much of my cumulative gains at risk. I guess if there's any suggestion that I can make, it would be to devise a plan and stick with it. I can attribute most of my trading mistakes to the times I've deviated from my plan. Perhaps the most important and difficult thing we can do is to admit to a trading error and take the loss. FWIW. AdvocateDevil

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