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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Eva who wrote (9692)	3/22/2002 12:45:29 PM
From: isopatch	Respond to of 36161

Hi Eva. Hear you & may as well post this to the thread. Every year, there're always a few positions that leap frog a mental sell stop either because of overnight news or because they are thinly traded issues. And ole Iso be muttering - once in a while - though the ensuing correction till.....the stock ramps back up again.<g> In most cases, you've got more of a shot at getting out with a good gain once there's some evidence an important top is in. That kind of confirmation occurs early in the ensuing correction. So, if you're a multi-month position holder, it's quite reasonable to give back 10+% off the top. Over time your performance will be better, just as is waiting for confirmation of a bottom to fill out long positions. (Of course, ST traders have to exit more quickly) The best Intermediate Term position traders will all tell you that even they only rarely nail a top or bottom, on the button. And when they do, an equal amount of luck and expertise is involved. Trading isn't rocket science. It's not necessary to be perfect. Besides, it's impossible. Problem is most people make unreasonable demands on both their own performance and from those they follow. And they get very stressed out as a result. All that's necessary is to be consistently right more often than wrong (say 6 or 7 out of every 10 major calls) to make enormous net returns - over time - in this game. It's a lot easier to relax and enjoy trading - vs getting burned out - if the expectations you have for yourself and others are reasonable. Most people are wound way too tight about money IMHO. Life is too short. Well back to DD and the tape for the rest of the day. Will try to drop by after the close. Hope everyone has a profitable day, Isopatch