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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: stock talk who wrote (16094)	4/16/2000 12:54:00 PM
From: TATRADER	Read Replies (4) \| Respond to of 59879

Welcome back frank, if only you had allowed me to travel in your suitcase, and given me my airline seat in the restroom of the airliner... You mentioned once before how you had lost your shirt two times, before you became a very good manager of preserving capitol at all costs..Well Frank, I am now on shirt number 2..I am not looking for sympathy but will simply state the facts... For the first 3 months of 2000, I was up 65K,(that 65K was already taken to the bank) looking to purchase a new home at the end of the year, at least have a down payment for it...In the last 3 weeks I have lost 65K...So basically the kid is broke or even...My trading account is not as large as yours, so there are still some funds around...Of course I still have a couple losing positions that I am counting in this total that I haven't sold yet(PCTL,MZON,DDIM) I know every trading rule out there, but my downfall remains my emotional makeup...So Here are the lessons, will they sink in... 1.If you buy a long-term position like AZTC, immediately put a protective stop in, to protect yourself from any catastrophic loss...You can judge an area where there is good support and if it breaks, you know it is a dog.. 2. Never average down on a loser(bought more AZTC as it went down) 3.On a bull popper, wait for the stock to confirm a higher low, before even considering entry..Then put a stop under the low..If I had done that on MZON, I wouldn't have obtained such losses.. 4. Be able to pull yourself away from trading, days or weeks if necesary, if proper market conditions don't exist. Don't try to trade just for the sake of trading... 5. Never buy a stock on a news report or blowoff volume... Right now, my assessment of the market is that we will find some support in the 2900-3000 area...There will be a bounce sometime this week, and yet with the technical damage done, don't expect that bounce to hold...Then when the next inflation report comes out, gold will finally take off, the DOW will head down to 8500, and it will finally be the golden opportunity to buy as a mild recession sets in.... Take care, Mark