Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (35876)	4/24/2000 4:14:00 PM
From: Mr. Oil	Respond to of 62348

Thanks Chief. Where to place stops is a difficult thing to know. Inevitably the wipsaws can kick you out but then when I chose the stop on TSX today it was just below support at 26.40. If I had placed it just below the days low I would have been stopped out at 26.05 instead which would have made for a deaper loss. I am trying to be more diciplined with stops these days as I got hurt pretty bad these last few weeks with mental stops...they do not work in a down market when you are an optimist I find. So if I get booted out then I get booted out. I saved myself $600 on 2000 shares today with my stop where it was. I don't always see the benifits of stops but today I will take it. On the other hand today if I had not used stops at all I would be up $700 with the close of TSX at .35 above my purchase. Now what should I have done? Who really knows. Some days they work and some days they don't. I will try to limit my losses and protect my profits from now on. Cheers! Ray