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

To: Matthew L. Jones who wrote (5359)	11/12/1999 1:35:00 PM
From: cloudless	Respond to of 18137

Matt, This all makes a lot of sense. It's hard to lose money if your stops are tight. In a moment of stop-happiness I just set several at about 1%. The stops I just set would take me out without a loss. I'm still trying to figure all of this out. I've been at this for 4 months and I'm net <4,000> so I'm doing something wrong! The losses are attributable to long calls - something I'm not willing to do again until I'm a better stock picker AND timer - as you say, it takes both with long calls. I have found writing puts to be productive. I don't know if anyone else has this "problem" but I hear about all the big movers (QCOM - WHY didn't I buy this at 25) and then I get impatient with the "take profit on two points" approach. However, a million pennies is still a million dollars, right?? <G> Cloudless