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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (31849)	10/29/1999 3:23:00 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

max90: OT None of my business, but that is a lot to loose. Was that in stocks, options or futures? Regards, LG

To: LTK007 who wrote (31849)	10/29/1999 3:24:00 PM
From: Mike Learner	Read Replies (1) \| Respond to of 99985

max90, Sorry to hear your loss - it must be very difficult. Trading highway is littered with wrecks!! It is said that one needs to find his/her weakness and change, then charge again. Good Luck to you Regards,

To: LTK007 who wrote (31849)	10/29/1999 3:29:00 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

max90: I am sorry to hear of your lose. Maybe this will help down the road. My Nine Trading Rules Always have a plan and always trade that plan! After your decide on a stock you are going to trade...via fundamental analysis, technical analysis, sentiment/momentum analysis or any combination of the above, make sure you do the following...ALWAYS: 1- Always do your own due diligence, be responsible for your own trades/investments. Don't just trust tips check them out. 2- Have a entry point or a trading system entry signal. 3- Have a profit point or a trading system exit signal. 4- Have a stop loss (always mental if you can be there to watch the trade) 5- If your stop loss is reached, always close the trade ASAP, always. Commissions are just too cheap not to. You can always re-asses see rule #8. 6- Once the trade begins to move in a profitable direction tighten up your stop loss and trail it behind the win. If during the run your trailing stop loss is reached, close the trade ASAP, always. 7- Once your profit point or exit signal is reached, take your profits. No one ever went broke taking profits. However, if you are not using a trading system and you decide to ride the win, be sure and stick to rule #6. 8- After you close any trade as a winner or looser and you determine the stock is tradable again, start the process over. 9- If you have traded a stock three times and each has been a loosing trade, find another stock to trade. You can't read them all. Never try to get even with a stock, move on and find one you can win with. Those are my NINE Trading Rules...simple but they work for me...<g> Regards, LG

To: LTK007 who wrote (31849)	10/29/1999 4:11:00 PM
From: Casaubon	Respond to of 99985

I can not watch the market so closely (I actually do work <gggg>). So, I tend not to play the downside, as buying puts is the only way I can do it. If I were to be on the wrong side, I would not be able to do good damage control. I'm still having trouble identifying tops, but bottoms are getting easier. So, puts seem riskier to me. I would like to be able to short stocks, that way I could buy and hold <ggg>. Good Luck with the next one!

To: LTK007 who wrote (31849)	10/30/1999 3:55:00 PM
From: Stephen M. DeMoss	Read Replies (1) \| Respond to of 99985

Max, Thanks for being open about you situation. The tough thing for rationale thinking people is that the market is not rationale or predictable. If anything (in hind sight) we should have seen the bearishness on this thread as a contrarian indicator. It made too much sense that the market should have at least a blowoff rally to the downside before turning up. Never happened. I too lost about 40% of my trading money (closed positions late Friday). The tough thing for me is that I was 'in the money' by 33% and went to a 40% loss. One thing I would add to LG's list is to buy time with any options you choose. I only went out 2 months so I needed to close before NOV. 19. I always struggle with paying the extra premium but it is wise. Anyway, your not alone. Steve D.