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

To: Paul Viapiano who wrote (1294)	6/22/1999 9:40:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 18137

Yes But Paul.... confessions help...unless your able to talk about it...get help for it, and then DO something about it???, well your doomed right from the get go...like me... embarassed??? why???....nah!! no way.. these are mistakes made by novices...period...fear & greed Paul..that's it in a nut shell... today when CNET hit 56, in said whoopie!!! we goin' to 62'63...ah//NOT!!! this was dumb and dumber...if you have the entry right, then at least you don't over pay for the trade...the next question is..what's your target profit??? i could never trade for 1/4's-1 point/..not interested...i think i can set my trades up more like a pro, with some trial and errors... but the number doesn;t matter..it's how to trade the plan, and plan the trade...we can not waver for a minute...be repetative...period..and don't look back..leave some money on the table for the next guy..so what if it runs... hey i would have killed myself <g>...over and over each and every time i looked BACK!!! sheesh!! not good, forget about it...don't do it.. just move on to the next best set up... and Paul, keep talking it out...there are very astute traders here that can and are willing to help....so stay the course..and relax... set yourself up to trade without emotion...hahahaha..somehow??? regards guy..OJ...

To: Paul Viapiano who wrote (1294)	6/22/1999 9:51:00 PM
From: -	Read Replies (1) \| Respond to of 18137

Paul, Don't feel bad about getting trapped in AMZN+YHOO today, those are some of the most difficult stocks in the universe to not get "trapped" in, when the market gets hit with a blizzard of simultaneous "sell" programs like today. One thing that can help here, is to watch the S&P Futures. If they every TANK HARD, like today - just GET OUT of everything. You won't go wrong. In YHOO+AMZN, you might have to set your sell price 1/2 point or further below the bid. But when Mr. Chicago comes-a-knocking like today - especially after all those successive "up" closes, you want to be out of the longs... Re: your positions, one option to consider (no pun intended) is to sell some options (calls) against the stock positions. The option premium you bring in will help to erase your losses; the CBOE calls this "stock repair" (you have to hold a while and let the premium component of the option contract decay for this to work; otherwise you have to buy the premium back). I usually find it more expedient just to take the f___ loss, curse myself a few times :), (most imp.) write down and review what I "did wrong" in the trading journal, and get on with the next trade. Hope that helps, -Steve