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Pastimes : Rules We Can Learn From -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (47)	4/26/1998 2:46:00 PM
From: Roger Bodine	Respond to of 109

Mike, Just to show you that the overall stock market is like a rain forest in biodiversity. It is all the differences that make it work. My choices would be different from yours and they work good for me. 1. I borrowed $$ to invest and am way ahead by doing so. 2. I trade (at present) in a regular account but when my capital increases I will look at other types. 3. Good idea but I usually don't. 4. Agree. 5. I buy heavy on margin, it is cheap money and almost doubles my buy power. 6. I limit but may give it a little more range, just to protect by back side. 7. 100% agree. 8. Agree. 9. Not do anything?? Dull. Mike, Actually I agree with all your points, I just wanted to point out to others that we can have the opposite viewpoint and it still works great. Thanks for sharing. Roger

To: Mike McFarland who wrote (47)	4/26/1998 3:33:00 PM
From: yard_man	Read Replies (1) \| Respond to of 109

Most of your ideas strike me as particularly good except one of them: >>4. If a loss in something starts bugging you, pay for it with a gain in something else, nothing wrong with being even. 1. Don't pay for a loser with your winners -- Instead, cut losses and let winners run. (The idea above (4) will kill you on options. I know -- it's the reason that I was flat last year, only ekeing out some gains from interest bearing accounts.) My biggest mistakes have been taking profits that are two small on winning ideas while hanging on to losers. (It's hard to learn -- I did it again lost week -- argh!!) 2. To avoid the above concentrate on overall performance and not each individual position. 3. More important than the above is have definite entry and exit points. No matter how good an idea is you've got to have a point at which you admit it hasn't worked. OTOH -- You have to take your profit sometime for there to be a gain. Good luck Barry BTW Nice idea for the thread