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Strategies & Market Trends : Trade What You See, Not What You Think -- Ignore unavailable to you. Want to Upgrade?

To: Threei who wrote (23)	10/15/2000 11:53:49 AM
From: Steve Felix	Read Replies (2) \| Respond to of 867

Astounding Threei!! I'll take all the info you want to give out. Although not a day trader, I'm more a get in on the pull back and ride as far as it will go guy, your post on stops really struck home. I have only learned this in the last year. This is perhaps the truest statement I have ever read on SI: "for those who went through this self-adjusting it becomes so obvious that they really can not understand anymore how anyone could not see the light." Actually, when the revelation hit, it was more like: Boy Steve, were you stupid. Over and over again. Ha! Thanks. Steve

To: Threei who wrote (23)	10/15/2000 4:43:55 PM
From: Bruce Denney	Read Replies (1) \| Respond to of 867

Vadym, your comments on the importance of honoring stops should be engraved on the monitors of most traders. Year after year traders fall to the way side simply because they ignore their stop loss points. It's one avoidable mistake that newer traders can correct and as you aptly put it...will save them plenty. Look forward to reading this interesting thread. BD

To: Threei who wrote (23)	10/15/2000 6:56:19 PM
From: ig	Read Replies (1) \| Respond to of 867

On Keeping Stops Yes, it's one thing to repeatedly hear the warning to "Keep Your Stop!" and quite another to learn the lesson the hard way: by painful experience. I believe there is a fundamental and seldom-addressed reason why newbie traders have difficulty learning this lesson the inexpensive way: they do not yet have enough experience to quickly find a more promising and positive trade with which to replace their current suffering. It's a LOT easier to pull the plug on a bad trade when you know that you are capable of finding a good trade around the corner. For the newbie, the immediate trade always feels like Do Or Die, like it is the only opportunity they are likely to have for quite a while. They invest all of their ego in the immediate trade. The more years I trade, the more patterns and principles I learn, the easier it becomes to reject a bad trade and replace it with a good trade. To a newbie trader, "Keep Your Stops!" and "There's Always Another Trade!" are just words. The truth of these words is learned only by experience. Best of luck in all your endeavors! ig