Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (792)	11/3/1997 10:17:00 PM
From: .c pardue	Respond to of 12617

WTG irby

To: TFF who wrote (792)	11/3/1997 10:21:00 PM
From: GeneM	Respond to of 12617

irby: I totally agree with you. I have made all of those mistakes with the pennies. What I really was trying to impart to Tim was to hold and ride the winners; for day trading especially, one must cut his losses as quickly as possible. I drew an analogy with betting, where you have to tear up any losing tickets (for a 100% loss), whereas, at least with a stk., you don't lose until you sell (seldom, if ever, a 100% loss). But, I think I explained (at least I meant to) that the only time I hold a stk. overnite is when it's rising (so long as it merits holding; i.e., a large cap). I hope Tim didn't misinterpret that; as I explicitly stated that I set my parameters before I entered (e.g., a 2% stop loss), which I hope implied that he should cut his losses at a pre-determined point. GeneM

To: TFF who wrote (792)	11/3/1997 10:27:00 PM
From: ojai	Respond to of 12617

irby- I agree, the one thing I stick to is SELL THE LOSERS. I give them 8 to 10% leeway on the downside, and don't get emotional about it. I don't always use stop loss orders, because it seems to give the MM's something to play with. But I get out when I hit the downside target. The most valuable thing thing I've learned, I think, is to cut the losses and preserve my capital. GeneM is right also about selling 1/2 the position when hitting the upside target, then letting the rest run. I have more trouble with that one. I tend to look for 15-20% and sell the whole lot, and go on to the next one. Good trading- Tim