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Strategies & Market Trends : Successful Short-Term Trading Strategies for Beginners -- Ignore unavailable to you. Want to Upgrade?

To: William W. Dwyer, Jr. who wrote (24)	8/11/1998 1:13:00 PM
From: tide	Read Replies (2) \| Respond to of 78

Bill - Thank you for your comments & will look for that book. As primarily a beginner at least in very short term trades, I would like to make another comment & give an example of where a beginner could get into trouble. With short term stuff, I am pretty well just paper trading to learn the pitfalls with out it costing me. I would state emphatically that any beginner should learn that way until they become comfortable with a system. An example: Yestdy on paper I bought 200 AOL @ 112 3/4. Yahoo research gave AOL a 16 strong buy - 6 mod buy - 2 hold rating This is a large cap well established Co with a pretty good safe outlook. Where is it now? Could sell @ abt 107 1/4 but couldn't have sold much higher than that this AM. Chances are one would figure on holding as it should rebound . . but if the mkt continues to tank as some analysts will or are saying, a beginner is going to be very nervous & may get out , taking their lumps. What did I do wrong? I shouldn't have held overnite, esp with such a pricy mkt.,IMO. Maybe I bought the wrong stock? Perhaps it will recover & be OK but phaps that may take a long time. I just want to make the point that big stocks are not all that safe if not handled with great care. They may well be a good long term hold but how long is a beginner prepared to have their hard earned cash sitting earning little or losing value when they could have held that cash & tried to move in at an opportune time. Fortunately this was only paper trading & I did learn from it without it costing me! tide