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

To: shawnwolff who wrote (126)	1/19/2001 9:18:01 PM
From: Steve Felix	Read Replies (1) \| Respond to of 223

shawnwolff, "re-enter at the bottom ?" I won't pretend to know where that is, any more than I know where the top will be. Have we passed it? Or is it $50? I don't have the opportunity to sit here and watch, waiting to enter or exit. If I sell it all, I lock in what I can gain without having to "gamble" on an entry again. I seriously doubt there is a trader alive that hasn't had a stock fall flat on its face soon after entry. I'm not talking 1/16 stops at the entry here. I prefer to close the downside door while letting the upside open. Upon raising the stop there are three scenarios. #1 I get stopped out. I make more than enough to pay for 1 VERY bad trade. #2 The stock comes back within my 7% and 1% parameters and I re-enter for 300. With the stop raised I may only make enough to pay for a pretty bad trade. <gg> I'll admit I don't do this often. Currently this would take a move back to 15 1/2, easily possible. #3 I sell on a stop at a trend line break somewhere in the future. Again, I won't pretend to know where that is. Hopefully it is a steeper trend line by that time. There are volumes written on selling being the hard part. I disagree. Finding stocks I like within the 7% and 1% parameters. Not stretching those rules. And getting the move it takes to make it a guaranteed positive trade, while still holding some of the position. Are the harder parts for me. I don't add gains and losses at the end of each day, but at the end of each trade. In this case, the longer it takes the better. I'm going to sell them all. It is just a matter of when.