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: Cash who wrote (590)	2/22/1998 10:59:00 PM
From: whuffo	of 2120

Good observation and very valid. One thing that helped me get the right mind set was to flush the following thought from my mind forever: "If I don't sell at a loss I haven't really lost money." BULL S**T! When a stock that you hold ticks down, you lost money then and there. The next valid question is can I take what's left and make more money elsewhere or just leave it where it is. Too many times I've sat in a losing trade and watched another play go by that would have more than made up for the loss. Dumb. But sometimes I think that no matter how many times we hear the wisdom from the experienced traders we just have to make the dumb mistakes for ourselves before it really sinks in. It's an expensive education that way but it may be the only way.

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