Tokyo Joe's Cafe / Societe Anonyme/No Pennies Message Board

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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: Jay Lyons who wrote (9237)	11/7/1998 7:15:00 PM
From: Logistics	Read Replies (2) of 119973

I quit my dayjob to trade and have been successful in the last 18 months daytrading. I still have a lot to learn but there are a few hard rules that I adhere to: 1. This is not a 9:30 to 4:00 job. Odds are you will fail. I am online at least 12 hours per day looking for tips, researching, determining investor sentiment etc... 2. Always put trailing stops. If my stock starts to move up I move my stop right up with it. 3. I put stops in IMMEDIATELY after my buy confirmation is in. Within minutes usually. Some prefer mental stops but I am usually in five or six stocks at a time and feel safer with my stops in. 4. Let the emotions go. This was the hardest for me. I had trouble dealing with missed gains, losses etc... Once I played the numbers game (out at my stops always and taking gains without looking back) I really started to make some money. Always learning but feeling it is more of a skill that I am mastering and not a gamble. JL

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