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To: Kevin who wrote (30788)	12/10/1997 11:05:00 AM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 58727

Thanks...I figured it had to have something to do with the March futures being used but wasnt sure. As far as egos go "I KNOW I AM RIGHT ABOUT ALL MY POINTS" how is that for an ego... make sure you read my whole post because I edited it a bunch of times if anyone read that and felt their feathers ruffling..then you have a problem with your ego getting in the way of your maximizing your potential. and if you cant look at information from a distance and realize that your way may not be the best way and that someone else might have ideas too that can be incorporated successfully..then YOU REALLY HAVE AN EGO PROBLEM and it will be a stumbling block Am I the norm or the anomaly....I am most definitely the norm...but at least I recognize that fact and try to deal with it...not always so successfully,,but I am working on it.

To: Kevin who wrote (30788)	12/10/1997 11:10:00 AM
From: James H. Irwin	Read Replies (3) \| Respond to of 58727

Kevin, Valuable information you are passing along. My experience is that the decision to sell should be analog and not digital. By that I mean that you can sell part of a position...or scale out...just like you might scale up a position or add to it. If you own 5000 shares of a stock or 20 calls sell 50%. The feeling one gets is relief. After all, if a position is going against you all the rationalization in the world won't help pay for your grocery bill by "making you whole." In essence, be around to play another day. Great reference book for common day trading tips: The Remembrances of a Stock Operator by LeFebvre (spelling may be off...actually rumored to be Jesse Livermore...truly a classic and a great Holiday gift.) Bon Chance Jim

To: Kevin who wrote (30788)	12/10/1997 11:15:00 AM
From: kiwi	Read Replies (1) \| Respond to of 58727

Kevin thank you for the info yesterday. I am also using jbil dec 60's to clean the drain and i thought i was so right that i averaged down half way through the fiasco and now I am using that bunch to clean the head drain. It looks like your puts are doing well. talk to you later. kiwi

To: Kevin who wrote (30788)	12/10/1997 11:31:00 AM
From: Tom Trader	Read Replies (2) \| Respond to of 58727

Kevin and Lisa -- your postings about egos and how it affects ones trading is the truth I think that the most important thing a trader should realize is that having losing trades is an inherent part of trading. One cannot be a trader without having losing trades --- the real objective however is to make money and so if one makes more money on winning trades than one loses on losing trades then that is what matters. However, when the ego comes into play one is more concerned with each trade being a winner -- which is really irrelevant. When trading futures, my exit points are defined for me -- and as long as I follow the system there should be no confusion on that score. When trading stocks and options my exit points are not as well-defined and if I look at my losing trades what is clear to me is that more often than not the problem has not so much been with the entry but my failure to exit properly -- and I am not just referring to losers but also winners where I held on too long. I have been trying to get into the habit of placing an exit order--GTC-- as soon as I enter a position especially on options.