Want to make $1000 a week trading.....I'm going to try!!! Message Board

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Strategies & Market Trends : Want to make $1000 a week trading.....I'm going to try!!!

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To: Dan Ross who wrote (126)	12/12/1997 6:06:00 PM
From: Jurgen	Read Replies (2) of 1100

Dan, a stop is more a mental thing. Setup your limit, let's say 8% or 10% loss or whatever you can stand, than watch and stick to your limit. That's the tough part, to enter the sell at a loss. Human beings don't like to realize the loss. You see it going down, it goes down 10.1 % and you think "that's a bad time to sell, it sure will go up.." and all of the sudden it's down 14% and you think (HOPE) again "it MUST go up !" Now you're a long term investor (..well, the fundamentals are sound..). Don't use hope in trading! In general there's nothing bad about being long, but if you bought the stock to trade and now you can't find the emergency exit, that sure is bad. Short term trading is about gains and losses, the total is important. I normally have 7-10 open positions, always some of them go against me. I learned to pull the trigger. It hurts, but it saves money. Oh well, just my 2 cents Good luck

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