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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Darth Trader who wrote (19000)	5/23/1998 3:50:00 PM
From: Temple Williams	Respond to of 94695

Darth: Until this week, 3 handles plus slippage has always been my maximum loss on an initial trade. Winning trades push the envelope on my stop losses. My trading rules are at skansearch.com ... three Spoos points was my never-to-be-violated stop loss. I have moved it up to 4 Spoos points for the coming week. I was stopped out twice last week ... once by .20 spoos points and once right on the money ... and in both cases, the trades went on to be big winners immediately after I was picked off. Hence the move to 4-handle stops. I always take my losses immediately. I never mess around with it. I'm out. I know of no trader who survives for any length of time who does not limit his or her losses and run and gun their gains. Any other approach is suicide (and usually fairly swift).