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

To: Bilow who wrote (3164)	8/22/1999 12:54:00 PM
From: Cash	Read Replies (1) \| Respond to of 18137

Anytime a trader gets the feeling that he "wants to make it back," it is time to close his positions and walk away for a while. Every trade is a new trade, and you have to forget your wishes. Let the market tell you when to get out, not your memory of what happened yesterday or earlier today. I couldn't agree more. This is one of the top 3 ways that I have seen traders damage their accounts and if it ever does work, it's only extremely good luck that would have been better used on the lottery. Talking about "streaks" are there days when you say that you just don't have it and "get small" or don't trade at all? You trade a lot, so how many trades do you do before you determine you are on a streak (good or bad)?

To: Bilow who wrote (3164)	8/23/1999 11:02:00 AM
From: mappingworld	Respond to of 18137

Thanks you Bilow for your well thought out comments and advice. I did have a peek at te PRST chart and what a ride. I hope you were on it! I also believe it is Elder who suggests (strongly) the 2% rule. Olga (on vacation for the next week) <<< It's a fascinating book, with it's best lesson about how long short investors have to wait. I believe that it is possible to short such companies, but the thing you have to have is the financial ability to wait an incredibly long time. PRST is a great example of a overhyped company that made money for the short sellers, but what a ride. (Look at 5 year chart to appreciate what I mean.) The fact seems to be that Wall Street takes a long time to come to its senses.>>