Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 183.78

-0.6%

Dec 10 3:59 PM EST

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To: Archie Goodwin who wrote (1694)	12/10/1998 5:26:00 PM
From: Trader J	Read Replies (1) of 56535

Archie - Welcome. I too learned again. Was in yesterday at 4 3/4 and out at 5 1/4. But then....yes...the fatal mistake/s ..... accumulating all the way from 5 7/8 down to 5 3/8, amassing 6000 shares of a sure gapper. Then, on the weakness this morning, 2000 more at 4. Greed! Greed! Greed!. A $17,000 education about why we keep our greed in check. What is worse is that I made a $9,000 mistake and a sure thing gap on NAVR the day before. Up until the past two days I was hitting every trade. Was up $20K for the week, or so. The gaps are not what they used to be as explained by my trading rep. at my broker. It makes good sense what he says. The MMs have been getting killed and are sometimes losing millions in just a few minutes because of the volatility while trying to maintian the market in a given issue. They cannot keep doing this and he explained that they all are looking for solutions and changing their habits. The important thing through a time like this is good habits will win out over bad. Do not change for the worse, what has worked for you in the past. But recognize your mistakes and try to determine when you are about to make one. I have done well by limiting the number of shares on a stock to rarely more than 3000 or so. Reduces your gains but also limits your losses. And since you cut your losses and let your winners run as long as possible, it is a good equation for profit....at least for me. Recently I have been letting my successes get the better of me and upped the ante so to speak. Well, on the bright side.....lesst taxes to pay and a refreshe of the disciplines of trading. We will continue to do well, this I have no question about. GOod luck to all TJ

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