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Strategies & Market Trends : Tech Stock Options
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To: Electric who wrote (31870)12/23/1997 4:19:00 PM
From: Patrick Slevin  Read Replies (3) of 58727
 
No, sorry. I don't remember the MOT story.

But I'm reminded of something I scanned this morning from Paragon Trading....a newsletter a friend gets. It was 5 factors on the emotions of trading.

Factor 5 I should pay attention to more, myself. Summed up, it goes something like this. "Lastly, it is hard enough to admit to yourself that you are wrong in a trade. We do not recommend sharing your trades with other traders. Once you publically announce your trade it is much more difficult to admit if you are wrong. etc., etc."

As difficult as it is to remove emotion from trading, discussing past trades is good because you can focus on what you or I did wrong. Personally I rarely mention an open trade. I never thought about it in this fashion but I suppose it does add pressure when a decision has to be made....

I mentioned earlier I was trying to cover short OEX puts at 6.75 -- I did CAN the order early this afternoon but never fully decided whether or not to try to cover them at 7.25, say. So that was an error, but whether or not I put additional pressure on myself by discussing the trade while it was on I don't know. Obviously there are people who can discuss impending positions or positions just taken...but I guess it's quite likely that a proper decision may be skewed once the play is discussed with another trader. Could that have happened in your case?
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