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.

Strategies & Market Trends : Your Worst Trading Enemy.. You -- Ignore unavailable to you. Want to Upgrade?

To: Nazbuster who wrote (3)	1/15/2001 1:46:29 PM
From: Sharck	Read Replies (2) \| Respond to of 223

Don't mean to interject here and will certainly look forward to hearing Shawns response, but I have challenged a few owners of these "daytrader" firms 1000 dollar bet in the past and will do so again here. Anyone that claims they can "get out" of a position with a 1/16 and 1/8th loss on a stock, as you have proven from your own experience MR, that is moving south is lying end of story, period. Lata, Sharck

To: Nazbuster who wrote (3)	1/15/2001 2:10:01 PM
From: shawnwolff	Respond to of 223

Re: Two very different Stop Blowing cases Let's differentiate between two very different stop blowing cases. 1. You CHOSE not to keep your stop. This is the kind of stop blowing that is very much a product of your emotions. It may feel like you had no choice. It may feel like it got away from you. But deep inside you know that when your stop came up, you hesitated just enough to let it go - perhaps in denial, perhaps in the hope that it would come back. You may also have re-evaluated, and widened your stop as it came, justifying the blown stop in your mind, changing plans mid-course. The situation then snow-balls, and the further away it gets, the more anxious you become, and the larger the loss. 2. You TRIED to get out when you stop came and COULDNT get out. This is a very different case, and depends on a lot of variables that relate to your method of choosing trades and identifying high-risk situations. A very important part of keeping stops, is first choosing trades where you CAN keep stops. Another important part of keeping stops is timing your trades properly, and choosing your stops appropriately. This case is fairly specific to daytrading, or oscillation trading.