Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Level II Trading -- Ignore unavailable to you. Want to Upgrade?

To: Bilow who wrote (212)	2/22/1998 3:47:00 PM
From: Dan Duchardt	Respond to of 1086

Carl, For the sake of our friends here who have not the foggiest idea what an eigenstate is, we should probably not take this analogy any further. It's a great observation though that being unwilling to accept when we have made an "error" can be the demise of a trader. In many, if not most cases, these "errors" are not errors at all, at least in the beginning, just an inability to predict the future leading to finding ourselves in a position we don't want to be in. It becomes an error when we then hold on hoping for things to get better as we watch them get worse. I'm trying to not think of trades going against me as "errors", unless I do something emotional to compound the loss. As long as my hardware is working, I am never "stuck" there. I choose to stay or to get out. A small loss can be a good trade if I get in when things look right, and I get out before they fall apart even though I'm still on the wrong side. You don't have to wait until tomorrow to admit you made a mistake with HRSH. You either did or you didn't, regardless of wether you now take a profit or loss. No crow eating necessary. Good luck getting out of it in the most favorable way you can going forward from here. Dan