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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: GeneM who wrote (785)11/3/1997 9:52:00 PM
From: TFF  Read Replies (3) of 12617
 
GeneM:>>> The only time you lose (if you do) is when you sell. If you don't sell, you really don't lose;

GeneM I really have to say I disagree with this statement IMHO.

Holding losers results in the following:

1) You end up watching losers while you should be taking the loss and moving on to more productive trading.

2) The longer you hold a loser the more you second guess your abilities as a trader which ultimately affect you self-confidence,which in turn affect the success of other trades.

3) You become attached to the stock and consider averaging down when you know it has hit rock bottom(of course, it goes down again as soon as you average down!)

I have experienced all of the above. I have seen clients experience all of the above over and over. Believe me, holding losers is the worst thing I have ever done! The money lost is nothing, compared to the emotional scares left behind after you finally decide to exit the trade.
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