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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Bald Man from Mars who wrote (97364)	4/16/2000 11:11:00 AM
From: Paul A	Respond to of 108040

Mind if I make a suggestion? If you honestly want to start disciplining yourself, and start cutting loses etc etc.. sell the position at the open Monday. Start fresh.. the worse thing you can be is a deer in the headlights.. There are a lot of people in your position right now that would love a small rally to sell into.. but what if the markets drop another 10-20%? I see more selling before buying.. and everyone who is buying tomorrow will surely have stops set for the minute the market turns south.. Up till about 2 weeks ago, Long players were able to sit thru most downturns and their holdings would recover in days.. The last year, I became fanatical about stop loses and learned to cut my loses no matter what.. It didnt pay off during the insane bull run because stocks just kept going higher and higher.. This week it not only saved me a fortune, but it also helped me earn a small fortune.. I covered my shorts too early.. but for the last 5 days I have been trading long positions in and out.. buy it? set the stop? if I catch it I made 5x what I would have lost.. Also- alot of it comes down to decided wether you are honestly an investor or a trader.. being both will clean out the account.. just some thoughts from someone whos been there and dosnt ever want to be there again.