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Strategies & Market Trends : LastShadow's Position Trading
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To: Judy who wrote (5683)1/7/1999 11:56:00 PM
From: Jay Lyons  Read Replies (1) of 43080
 
My thanks to everyone for their feedback. Scott, the percentage example was very clear.

I'm looking at the question from the psycological angle. Most of us know that stopping losses is perhaps the most important part of making money. Yet even the best of us will double down on occasion, despite the irrationality of it.

On the face of it, doubling up, however, seems to make sense to me. You're using money that the stock has already provided. You're in a stock that's moving in the right direction. I've never read anything pro or concerning it, so I thought I'd ask the experts.

I'll continue to try to stick to my current money management rules, but will start looking at "what if's" had I added to winners when they cleared a point.

Thanks all.

Oh, and Poet, mam...I wasn't picking on your trading style or anything, and apologize if I gave that impression. It was just your post that jogged my memory.

Jay
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