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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: Bill Green who wrote (823)	8/20/1998 1:32:00 AM
From: wallacestevens	Respond to of 7382

What I have noticed is that the overnight position is priced at the closing price two days before. In other words, if today (Wednesday) you had an overnight position from yesterday (Tuesday) it would be priced at Monday's closing price. This used to bother me because I like to think about what a position cost me originally when I am considering closing the position. Recently, I have realized that this is false thinking. When daytrading, my goal is to increase the value of my portfolio on a daily basis. What I paid for a stock more than two days ago is ancient history. I have a very bad tendency to stay with a sinking ship, hoping (bad emotion for a daytrader) for a return to profitability. This feature has actually made it easier for me to dump a bad holding. After all, $10K sitting and sinking in a bad position is a nasty thing when that money could so easily get out and into a rising position. This is one of the most important lessons I have learned yet. I am embarrassed to think how much money it cost me to learn to stand up to my ego.