Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: TraderAlan who wrote (1277)	6/22/1999 6:53:00 PM
From: Teresa Lo	Respond to of 18137

Excellent point on the singles and doubles comment. Professional traders are there to making a living taking money out of the market, and therefore, don't have the luxury of having a real job to support the (bad for traders) habit of trying to go for home runs. Our first job is to protect our capital because with no capital a trader is out of the game.

To: TraderAlan who wrote (1277)	6/22/1999 8:15:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 18137

Thanks Alan... i've been thinking about this hard lately...i have a very good stock sense...good selection and entries. with a tendency to sit in the trade too long...greedy<g>...bad move...costly.. example...yesterday i buy 500 CNET at 51 1/2..i hold it over night, sitting good..(in the money) so to speak..it hit's 56!!! i don't sell, DUH!!!..tank city...no target, or more like no shorter term target.. i had resistance much higher..but the market rolled over... i have to make a set of rules, that are "Un changeable"...no matter what...haven't done that yet... trying to see where my pain tolerence is....not sure yet...but i did not like the feeling of leaving $2000G's easy money on the table... i had a clearer picture of NTBK, bought it at 34, sold it at 38++ definate resistance there...easy to do...wasn't looking for higher numbers...CNET i had 62/63 for the number... maybe if i use the larger target, BUT, hit 4 points inbetween, say goodbye anyway, or place a very tight stop right there...hmmmm.... watcha think???