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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: The Devil Dog who wrote (1833)	12/16/1998 10:07:00 AM
From: the Chief	Read Replies (1) \| Respond to of 4467

I take the "hit" on a stop being hit as just part of doing "business". The greatest difficulty is coming up with a strategy and sticking with it. I got stopped out on PDG the other day......you just take in stride. The stop is there to limit loss....if you are unwilling to take aloss then daytrading is not a good vocation. You can always second guess where the right place was for a stop...but its generally done in hindsight and not based on realtime. PDG's stop was a good example. It got hit because I got in too early...I just didn't think it would break into the 18's. I got stopped out at a .30c loss. But what would have happened if it would have fallen to $15.00......I would be thanking my stop!! You can't have your cake and eat it too!! A stop will save your butt more times than it will hang you out to dry...especially in this kind of market!! Too tight a stop just opens you to being tossed out on any fluctuation. the Chief