Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: Buckey who wrote (12355)	5/11/1999 1:36:00 PM
From: keith massey	Read Replies (3) of 62348

NCT..... Hand over the idiot hat. I just manage to make the two biggest mistakes that a day trader can make.... Never try and catch a falling knife Never go against a trend I thought I would be smart and try and catch the bottom on NCT by watching the chart super close and buying at every major support level. I was so sure the stock would bounce. I just got stopped out at $25 on NCT for the 5th stop out at a loss. I was using tight stops just below the support levels but my total loss at this point on all these stops is almost $1700. That is not a loss I like to take on any day. I have been doing so well lately I forgot how much it sucks to be wrong on a stock. I printed out the 5 day chart of NCT and put it on my wall in front on me. It will act as a good reminder. I am now doing the smart thing and waiting until there is serious upward momentum on this stock before I plan on buying again. Best Regards KEITH

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