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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (363)	10/22/1998 10:25:00 AM
From: Craig K	Read Replies (1) \| Respond to of 11130

FGRX....starting to move,,,,not sure why...major buying Craig

To: Wayne Rumball who wrote (363)	10/22/1998 8:47:00 PM
From: Street Walker	Read Replies (1) \| Respond to of 11130

>Sold PONY yesterday, guess that's why it's up this morning.< Never complain you made a profit ! Its humane nature to want to buy at the lowest price and sell at the highest price. Break this thinking if you want make money as a trader. For some reason, when we sell a stock and make a profit on, we want it to go down. It has something to do with our EGO. If a stock goes up towards resistance, sell before it hits resitance. More money is usually lost waiting for a stock to hit the "top" than just taking profits while they exist. Another part of our EGO says this: if a trade is going against me, I'll hold on because my EGO is smarter than the tape and the stock will go up. This type of thinking is costly. Always maintain extemely tight stop-outs. You preserve your trading capital this way and you can always reenter the stock, and maybe at a cheaper price with more shares. Don't fight the tape if a stock is falling. Over come EGO. Take profits, be satisfied, and move on. It is better to sell into the strength, then fight everyone trying to sell when the tic goes down. Just some thoughts everyone here probably already knows. Regards, S.W.