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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Behrooz Rezai who wrote (2432)	1/25/1998 12:34:00 PM
From: steve goldman	Respond to of 4969

An additional point that I must have missed by not reading each of the posts in full (sorry:{). .... anyway, if you are a swing trader trader and are in touch with the market throughout the day, I would use a mental stop because even if you decide thatthe market in the stock has changed and you want out, there is some room to understand how the market reacts, that the worst price might be at the open, etc... and therefore maybe save an 1/8 or 1/4. And then I am also torn because when I decide I want out, I don't screw around too much for 1/8s or 1/4s. I once did that and I got slammed for big points because I never got it off. Also, about a broker telling you when to get out, etc. First off, most "brokers" don't know either, they aren't watching tapes all day but are researching stocks etc. While I am liscensed a broker, I am our head trader and watch stocks all days print for print,etc. Nonetheless, we can't even think about getting it right all the time, it simply doesn't happen like that. What I shoot for is to make more on the ones that I win on than the ones I lose...let my winners run and cut the losers early. Regards, Steve@yamner.com