Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Terry V who wrote (572)	2/22/1998 6:03:00 PM
From: Cash	Read Replies (2) of 2120

Terry, I couldn't agree with you more. The worst thing happened the other day. I didn't get out, and after my position dropped further, I averaged down. I then turned around and soared and I made significant profit. THE REASONS WHY THAT WAS SO BAD are 1. I had positive reinforcement of a negative action! ... always bad in the long run. 2. It came nowhere near to making up for all my extra losses that I've had by averaging down. 3. If I had exited when I originally should have, and used those dollars to buy later when I was doing my averaging down, the trading would have been even more profitable, but in doing it the RIGHT way. Don't be afraid to embarass traders. Hopefully, it'll just make them see things in a fresh light and stop their mistakes. The people in your IRC should be seeking help and giving help or why bother being there.

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