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Strategies & Market Trends : Traders( a.k.a. Losers) Anonymous
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To: pezz who wrote (5)2/4/1998 4:09:00 AM
From: Susan S.  Read Replies (1) of 10
 
My story: a very expensive nap

Last fall there was a day that RMBS dropped about 20 points. After it had already dropped 8 points, I bought 1000 shares thinking naively that no way could ANY stock drop much more than that (I had only been trading about two months).

Then, because I was tired, I lay down for a nap, only to wake up at the close to see that RMBS had dropped another 12 dollars.

That nap cost me big bucks, but I'll never forget the lessons I learned that day:

1) Bottom fishing is always tricky, and even more so in volatile stocks like Rambus;

2)Don't leave the screen for any length of time unless you have a stop loss order in place.

Susan
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