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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: freeus who wrote (15535)	11/13/2000 4:12:06 PM
From: Jill	Read Replies (2) \| Respond to of 65232

Well, from what I'm learning that's still not such a great approach (if rmbs goes to...then I'll be out.) And I know it well, its still hard for me to become unbiased about positions I had hope for and still hope for. At least I don't "puke at the lows" as she calls it. The best thing to do is to set sell stops--like RR says, preserve capital. At this point some of my capital is underwater and no point (extr calls that I messed up on while travelling is the main thing.) So when you buy more rmbs, you set a sell stop. The question is where. If you're trading longterm (i.e. you bought May 100s) you have to factor in how much you're willing to lose, versus daily volatility, etc. When RR gets back we should ask what type of stops he sets on his 4-6 month out options.