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To: Return to Sender who wrote (1088)	8/24/2012 9:33:41 AM
From: The Ox	1 Recommendation Read Replies (2) \| Respond to of 8239

Yeah, I was using the charts created by my trading platform. The dumb move was simply being a bit impatient. Even though the volume had risen and the stock had fallen to where I expected to see more support, the severity of the drop should have told me to wait and get on board after it was either in a steady sideways movement or an uptrend. I haven't been trading as much on a daily basis and, in hindsight, it was an "amateur" mistake. Truly, I should know better. I was looking at the setup last night and it reminded me of when I was trying to teach a friend to trade. It doesn't matter where "you think" the support should show, its where you actually see it in the trading chart. At least I have the sense to pull the trigger quickly and not let the bad timing turn into a huge loss. That was one of his big problems...he'd either chase it down or be stubborn waiting for the rebound. I kept telling him the taking a loss on a trade isn't a big deal. In fact, the more losses he took was fine with me as long as the losses were small. You can't always guess exactly what the market will do! When you keep your losses short and let your winners run, you will most likely be a good trader. Statistically speaking, you can take 65% or so losing trades if you cut and run quickly, because when you time the trades correctly, they are very profitable. Looking at BIDU, once it crossed back above $12 or $12.50 should have been the time to take a chance...not the first time it fell there.