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

To: Herc who wrote (5136)	11/2/1999 8:37:00 PM
From: OZ	Read Replies (2) \| Respond to of 18137

I've tried selling when a stock drops a set amount, and it seems I usually just got whipsawed. Now I wait for supports and buy a little and if it drops to the next support I buy twice as much then even more if it drops to the next support. At least I did this with Comcast. But Comcast is safe... HERC, I find it hard to believe that you are making money on a regular basis employing this strategy. But your quote At least I did this with Comcast implies that you have not used it that many times. Are you a full time trader or do you still have a day job. If you are a sucessful TRADER, I tip my hat to you for having a special talent that will not work for most and will never work for me. I think part of the reason people hold losers is because they lack the confidence of finding another winner. One one has that confidence, he/she will just take the small loss and move into the next trade and repeat this process over and over and day after day. Regards, OZ

To: Herc who wrote (5136)	11/2/1999 10:30:00 PM
From: Dave O.	Read Replies (1) \| Respond to of 18137

< but selling a stock just because it's going down is, often, the silliest thing in the world > I may be wrong, but some of your posts suggest you may be more of an investor than a trader. If so, that's a totally different situation. For me, as a trader, my capital is my most precious commodity. If I am wrong in a trade I must admit it and move on quickly after taking my losses. I can't sit waiting for a month or two for a stock to rebound. As a trader I need to make money on a daily basis to pay the bills etc. and taking losses is a part of the game. Those that are stubborn and refuse to take losses wash out as traders. They have virtually no chance to succeed longer term. Dave