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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (15707)	12/18/1997 6:56:00 AM
From: j g cordes	Read Replies (3) \| Respond to of 50167

Tom... this is the crux of the matter, because with practice, many different methods allow us a profitable opportunity most of the time... getting out is the only question really.. "BTW, I have found that my problem in trading is not proper entry but exiting the trade. If I told you how much profit I have seen eroded during this sell-off on trading positions that I have, it would make you sick." I would hazard a guess that on the buying side within two days, 95% of all my trades are making money. Then the real problem begins... and the ratio drops. So the problem isn't one of recognizing a buying opportunity but of recognizing a selling opportunity. It reminds one of how monkeys will try to grasp an object in a jar to possess it, but can't figure out how to withdraw it because their fist size becomes too large. In the same manner we grasp onto a trade and refuse to let it go as if committment is more important than objective. Motives become confused the minute your broker says, "its yours." If one cruises these threads, or any thread on SI, indeed most all the brokerage houses and "experts," the common theme is what to buy, when to buy... NOT WHEN TO SELL. We need to transfer all that intellectual and emotional gut feeling from INvesting to OUTvesting. I've made this point before, but the subtlty of this escapes our better social conditioning and morals.. trading emphasizes many traits we don't admire in other aspects of life. Its not a committment or loyalty pathway... more like an active libido of one night stands, getting out before anyone wakes up, stealing the food from the lions when they've got their heads turned. One should wake up in the morning thinking about the nuances and signs for selling, anyone can buy something, few can sell. Jim