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

To: wallstreeter who wrote (3013)	8/17/1999 11:00:00 PM
From: Secret_Agent_Man	Respond to of 18137

Subject 29682

To: wallstreeter who wrote (3013)	8/17/1999 11:19:00 PM
From: KM	Read Replies (1) \| Respond to of 18137

I was in NSOL the day it went down 43 points in a matter of an hour or so. When it started tanking hard and everyone was panicking out, what I did was put in a sell order slightly under the best bid and let it hit me on the way down. There was no way to hit bids unless you were lightning fast and there weren't many if any ISLD or ARCA bids anyway. I had the same thing happen on NITE a few weeks back when the Barrons rumor hit. Talk about tank city. Did the same thing. It blows but I can't think of anything better to do. A market order would be a real disaster.

To: wallstreeter who wrote (3013)	8/18/1999 12:00:00 PM
From: Rick Faurot	Read Replies (2) \| Respond to of 18137

Getting out in a panic selloff is a nightmare experience. Nobody wants your shares. You are losing money and you are in a panic yourself. Not good. My suggestions: Keep your 1/4 pt stop as consistently as possible. Don't get cute. Don't guess. The minute you start feeling lucky and decide to take a chance that "she's gonna come back big" you are risking your capital in a way you cannot afford. This applies no matter how rich you get. Some of the biggest fish out there have gotten snuffed by over confidence. Stay away from highly volatile market conditions. If the dow and nas are flipping up and down like a fish on a dock, step back a few steps. Take notes. Paper trade. You will love it that you did this in the long run. When the market settles down and you get readable conditions with medium volume, see what looks good. best of luck, Rick