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

To: shawnwolff who wrote (108)	1/19/2001 4:20:45 PM
From: Steve Felix	Read Replies (1) \| Respond to of 223

shawnwolff, I think a lot of people get confused because they don't recognize at the time if what they are looking at or reading is coming from daytraders or short term traders. I used to put limit orders in to buy and then not know what happened until I got home with an hour and a half of the market to go. I now get myself a list on the weekend and check only those stocks when I get home, looking to buy if they are "cooperating". With that in mind I will show a partial trade I am in now. Bought 500 MATX last Wed. at 14 7/8. 500 because I placed my stop at 13 7/8. That would limit my loss to 7%. $ loss would be about 1% of the account. Sorry to say,I'm not Bill Gates. <gg> Sold 300 this Wed. at $17. Currently I can't lose. That is where I want to be. This will start heads shaking, but I haven't raised the stop. I have found patience to be a virtue when I can't lose. I don't want to get into moving my stop every day. The stock is performing OK, and support trendline is about$14.60. This weekend I will raise it just below there. I learned a few lessons trying to trade like the traders who can be in the market all day. I paid in full for most of them. <gg> This is the best method I have come up with so far. At least for me.