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

To: TraderAlan who wrote (5324)	11/10/1999 9:05:00 PM
From: E. Davies	Read Replies (4) \| Respond to of 18137

The tech revolution sure has failed traders over the last week or two Unless you happen to be an investor in networking stocks! qcharts breakdowns have cost me a great deal of $$ as they always seem to come right when I'm thinking about cutting my losses. By the time I manage to get quotes & charts working again my position is deeper in the hole. I don't have built into my discipline a method for dealing with this. I want to cut losses quickly, so when I have reasonably large losses I freeze up and get into the "hope" mode, often taking even worse losses or foolishly averaging down. A system failure will turn a $200 loss into a $600 loss, then my failure turns that into a $1500 loss. Right now I'd gladly pay $2000/month for a rock steady reliable system. Know any? Never knowing when something is going to break is very hard on the concentration. A sort of related topic: Does anyone have a methodology that involves "quit while you are ahead"? In other words sometime during the day if you feel you have done well enough just stop trading. Today I was up $1600 at 1pm, enough to call it a good day for me. By the end of the day I lost it all, barely making enough to cover the commissions. Really felt like an idiot. Eric