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Strategies & Market Trends : Tech Stock Options
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To: Kevin who wrote (30788)12/10/1997 11:10:00 AM
From: James H. Irwin  Read Replies (3) of 58727
 
Kevin,

Valuable information you are passing along. My experience is that the decision to sell should be analog and not digital. By that I mean that you can sell part of a position...or scale out...just like you might scale up a position or add to it. If you own 5000 shares of a stock or 20 calls sell 50%. The feeling one gets is relief. After all, if a position is going against you all the rationalization in the world won't help pay for your grocery bill by "making you whole."

In essence, be around to play another day.

Great reference book for common day trading tips:

The Remembrances of a Stock Operator by LeFebvre (spelling may be off...actually rumored to be Jesse Livermore...truly a classic and a great Holiday gift.)

Bon Chance
Jim
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