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

To: CharlieChina who wrote (2475)	1/30/1998 4:01:00 AM
From: Dale Baker	Respond to of 4969

But at the same time, it's a tough call when to hold a position going against you and when to bail in the 5-10% loss range that discipline would dictate. I try to decide before each trade whether I will hold regardless or set a tight stop. This is especially true in short positions when you are convinced the company is really rotten. Often the best move is to ride out the surge and double up at or near the top. I did that with CDRD last year more out of stubborness than anything else. Made a nice profit after eight months of teeth grinding. This "system" leaves a lot of guesswork - and hope, sometimes.