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Technology Stocks : Full Disclosure Trading -- Ignore unavailable to you. Want to Upgrade?

To: ALTERN8 who wrote (6190)	6/29/2003 8:10:47 PM
From: advocatedevil	Respond to of 13403

OT - Thanks for the compliment ALTERN8! RE: "...do you use stops?" Nawwww, not often, it's not part of my current process to box myself in with dem stops - no real need when ya watch as close as I typically do. I always have mental stops, but they're constantly changin' as new variables enter the mix and new patterns emerge. I used to use them constantly when my game plan was primarily along da lines of swing tradin', but these days I tend ta focus on da quick scalp. Yeah, while it's true that I occasionally turn my back with a significant play now and then, and thus open myself up for a surprise when I return, I tend ta view those situations as part of the risk/enjoyment I have tradin'. IMO, AMAT doesn't carry a high probability of movin' too far to fast when I'm not lookin', so I rarely set up stops even in this scenario. I'm always modifying my tradin' style. This year I've maintained successful win/loss percentages and profit returns on dem scalp plays, but have taken more risks with the presses and the occasional monster. When I first begain tradin' many moons ago, I learned to avoid the presses and take the quick hit. Stops were an essential tool and were rarely altered (make a plan and stick to it!). FWIW, most of my life I've viewed pressin' a losin' play as a rookie mistake. In recent times I've relaxed that point of view ta see what I could do. So far I've managed ta mostly avoid da flame out crash and burn, but perhaps I've just been lucky. Right now I'm once again sittin' on a large 20K share pressed play and currently down (-$4K) on paper. In any case, I thinks it's important for me to occasionally remind folks that I trade to have fun and make money, with a high importance on havin' fun! I trade ONLY with money that I can EASILY afford to lose without havin' the slightest impact my current or future lifestyle or that of my family. AdvocateDevil