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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Rande Is who wrote (19312)	11/30/1998 10:45:00 PM
From: jeer	Read Replies (1) \| Respond to of 119973

you know folks, im a bit perplexed. so many here claim to have made bundles recently, yet when a wheel falls off, it's made to seem like the end of the world! im new at this, but can see a few things: those who hold overnight, with these volatile stocks, are risking much of their profits. the infamous DD discussed on many threads, including this one, means little when the big waves of market sentiment shift, unless youre holding for 6-12 months. i guess im here for a bit more classic daytrading, and the list of stocks i see that either went up or had significant volatility today are as long or longer than most other days. i havent tackled shorts yet, but they sure seem like a decent way to make $$ on certain days, and i hope to be able to execute them soon. call me naive, but i really dont think we can play both sides of the street (daytrade and hold) without extraordinary discipline in trading styles, psychology, and expectations. for any other new folks here, here's what my own rules are, regardless of hype, or hoping how high a stock may go: 1. max of 3 simultaneous plays, 500-2000 shares, $3-20 2. set mental or actual stop-loss, and execute them happily:) 3. all cash by end of the day as far as DD goes, ill play anything that moves enough, and i make every effort to avoid narrowly-hyped issues. id like to hear form others here who are operating somewhere in this same territory, or have an opinion to share. thanks for listening....jeer