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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: mabiba who wrote (26459)	10/17/2003 10:43:17 PM
From: chowder	Read Replies (1) of 206085

>>> I am afraid I didn't get the part about the "serious posters": <<< Can't say that I get it either. I do know that serious traders, or those who wish to outperform the market on a consistent basis, have an idea of when a good idea turns into a bad idea. When good turns to bad, it's time to sell and move on. The reason erasers were invented was to correct mistakes. When we hold on to a stock for two or three years, in hopes of correcting a mistake, we've lost the opportunity to put that money to use elsewhere, where we can earn a profit. Averaging down and holding until you get back to even are two ways to insure you don't outperform the market consistently. It's just another way of not being able to admit a screw up, or that our timing was very poor. We can't develop good habits if we hang on to the bad ones. Not being able to admit a mistake and correcting it immediately is a bad habit. To each their own, I suppose. We've been down this road before. dabum

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