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Non-Tech : CYBERTRADER

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To: Mr. Rhino who wrote (1735)1/15/1999 12:51:00 PM
From: William W. Dwyer, Jr.  Read Replies (2) of 3216
 
Mr. Rhino,

I'm not sure which stock you're trading, going from two to four. But that's a doubler, reason enough to take it all, especially if the 100% gain was very short term, unrealistic to ask (hope) for more.

All the books I've read said that prior to entering any position a trader should have an exit target, either upside or downside, a point where they plan to get out. Some talk about liquidating half your position at one target, half the remaining at another, and the rest at a third upside target.

Whereas every good trading book devotes at least one big chapter to cash management strategies, I have seen no book that uses the expression "you only live once" as the rationale for either entering or continuing a position. I know you meant that in a humorous way, but I just could not resist the opportunity to rub it in now. <g>

Congratulations on your winner! And please call me Bill, or WD (as funk does). Only my mother calls me "William."

Bill

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