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Strategies & Market Trends : The Rational Analyst -- Ignore unavailable to you. Want to Upgrade?

To: HeyRainier who wrote (666)	4/19/1998 7:06:00 PM
From: Galirayo	Read Replies (2) \| Respond to of 1720

[ Awesome Chat ] Rainier. You Sir, are amazing. To even think of Limiting your Trades this week because of your great performance last week is in my opinion ... a possibly prudent thing to do and the sign of a self actualized person. I have found myself in the past become extremely confident (over-confident may be a better description) after a Great Trade. And as a result .... I became hasty and reckless and rendered my gains back unto Caesar. I have seen others do the same. Patience really is a Virtue in the Market. You will know when the move is right. You have proven that, time and time again. The readers here know what your capabilities are as well as you do. Don't sell yourself short though, no one else here would. May the Market be with You! Regards, Ray PS: I'll bet you find another good one or two this week. Let me know when you do.

To: HeyRainier who wrote (666)	4/21/1998 4:04:00 PM
From: Tom Trader	Read Replies (2) \| Respond to of 1720

Ranier-an excellent post I took the liberty of commenting on it on the TSO thread after Lisa, was good enough to copy it on a post that she made. Message 4145710 If it is any consolation, I have over the years made the same mistake of trading against the trend--and it has cost me dearly. I rarely do it today and my trading results reflect this. I guess it is human nature to want to go against the trend -- the feeling that the market/a stock is too high or too low and if the former it has to go down and if the latter it should go up. The reality is that the trend just continues more often than not. So today, if I am uncomfortable taking a postion in line with the trend, I just stand aside. Good trading

To: HeyRainier who wrote (666)	4/22/1998 11:57:00 AM
From: mozek	Read Replies (1) \| Respond to of 1720

Rainier, Excellent post and one that shows great strength of character. I have had similar experiences, but have not analyzed them to the extent that you have, nor have I been so generous with my introspection. While I haven't determined exactly what percentage of my losses can be attributed to each specific mistake, I have certainly lost a medium sized fortune by going against the trend and a small fortune by simply being impatient. Other mistakes of mine were trading too much and being too highly leveraged. During the time I incurred most of my losses, long term holdings still kept my net worth at a comfortable level. I guess I've got to cut this post short, but one of the other lessons that I learned during this period was that it's usually better for me to write options or use spreads that put time on my side than purchase options outright. When purchasing options, time works against me, but the payoff can be quite large. With the style of option writing that I've been using successfully for a while now, the payoff is limited, but time is on my side. Thanks very much, Mike