To: Paul A who wrote (1573 ) 11/26/1999 10:49:00 PM From: Bilow Read Replies (1) | Respond to of 2263
Hi Paul A; I agree about what you said regarding people talking about other people killing themselves. It doesn't belong anywhere. Life is way to cool for anyone to consider suicide, I think, I don't understand why people think about it. I would rather be ugly and alive (like I am) than handsome and dead any day. So here are some kind words for those who lost a lot of money on this stock today, not just shorts who jumped into it in single digits, but also longs who jumped in at $50: You've now got a great story about how the financial mania of the late 20th century got to you, personally. This will provide amusing after dinner conversation for the rest of your life. Try to laugh at it, it won't feel so bad in a few days. Money is the easiest thing in the world to get. The hard things are love, health, a good college education, and 2-year olds who are potty trained. If you're feeling a little blue, take a look at all the good things you have, not the material objects that surround you, (which are constantly breaking, getting lost, wearing out, running off with another guy, or going out of fashion), but your friendships, your family, the people who you see every day. Some of them care about you, and they certainly don't want to see you step off this mortal coil, or clean up afterwards, for that matter. Now for the traders who still have enough equity to belly up to a place at the trading table, remember that someday, you too, will be on the losing end of a horrible trade. The time is now to resolve to make sure that that horrible trade doesn't put you out of the game. So limit your equity at risk on each trade to 1 or 2%, and cut your losses at that level. Diversify your risks. Take the other 98% of your trading capital and do something else with it. Find other risky trades. Life is long, typically, compared to trading, so you will have another opportunity to make money. Make sure that you have money for that next opportunity, by keeping your trading size down. -- Carl