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

To: Fun-da-Mental#1 who wrote (34)	1/16/2001 6:59:40 AM
From: shawnwolff	Read Replies (2) \| Respond to of 223

To: Fun-da-Mental#1 Re: Hindsight I like the way you are going back to re-analyze what happened. The problem with re-analyzing sometimes though is that hindsight is 20/20. We often look back, and think wow, what if I had just held? But in doing this we forget the situation as it happened and the reasons we exited. There were obviously reasons you exited. You need to think of what those reasons were, and whether they were valid at the time. And this is regardless of your time-frame of trading, or strategy. The trades will come and go. Its the reasoning and methods that will carry you on. One technique I use regularly(and this is also regardless of the time-frame of my trade), is trailing stops. As a position moves in my direction, I keep moving that stop up to each barrier point as it is hurdled. That way I am still giving the stock room to move, but at the same time I am trapping profits in. But once my trailing stop is hit, I take those profits - no looking back. All we have is situation as we see it at that moment. The last point is that we really must go into each trade with stops already in place. There is no reason to ride stocks down. If your entry point is wrong, you can always re-enter, but do not ride them down. You have the control, just use it ! - Shawn PS. Thanks for the book tip !

To: Fun-da-Mental#1 who wrote (34)	1/18/2001 1:08:05 AM
From: RobQ	Read Replies (2) \| Respond to of 223

Fun, Thanks for the book recommendation. I was drawn to the thread by the psychological aspects discussed but your trading situation and thus, style, is probably more similar to mine than most of the day traders on the thread. I trade my retirement account making it "less real" money and I trade for the long term so I'm drawn more like you, to values. I haven't as yet shorted anything which has been a real detriment this year! I have made the mistake of selling too soon but I'm more likely to "fall in love" with and collect (and yes, even average down on)a stock and refuse to heed the TA signals to sell because I feel there's got to be good news soon! I even go so far as to convince myself that those market-makers are trying to manipulate me into selling! ( i didn't need to learn that I was paranoid, shawnwolf, i knew that already <g> ). So I'm here realizing that our moderator is right. We can learn about ourselves and perhaps learn to avoid the pitfalls of our personalities in our trading. Good to be here.