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

To: Wizzer who wrote (1888)	12/24/1998 8:42:00 AM
From: Taylorm.	Respond to of 4467

Can someone post when the markets are open/closed next week . thanks and merry christmas

To: Wizzer who wrote (1888)	12/24/1998 9:05:00 AM
From: The Devil Dog	Read Replies (1) \| Respond to of 4467

Thanks Wizzer for sharing. I have recently divulged on the thread of a very similar situation where I practiced a bad decision to hold, cost me $6,000 on BII. I think it is very important to determine whether it is a day trade or a momentum trade or a long term hold, and do not change your mind because your on the loosing end. Sell at a loss if you have to be out. I talked myself into holding BII for 2 weeks, I don't look bad now cause it is bouncing back up, but I tied up $15,000 for 2 weeks. LOST OPPERTUNITY. To make a long story should be shorter, I WILL include stops on my orders from now on. Thanks for re enforcing the discipline that we all must muster to make our selves good traders. Thanks to all for all your insight, hope you all have a very wonderful holiday. Merry Christmas to ALL! Best Regards WB

To: Wizzer who wrote (1888)	12/24/1998 4:59:00 PM
From: Alastair McIntosh	Read Replies (3) \| Respond to of 4467

Re: Stops My thoughts on stops and trading rules is general. A good approach to stops is to decide on your stop loss at the same time you decide to put in your buy (or sell, if you are shorting). As soon as you get your fill confirmation, put in your stop. As soon as your trade is in the money by about 7% (could be more or less, depending on volatility), raise your stop to your buy price so you won't take a loss on the trade. Move your stop up in steps to protect increasing profits. Disciplined trading pays off in the long run. The main thing is to have trading rules and stick to them. Adjust your own rules over time if necessary, but have rules and stick to them. The worst situation occurs when you break a rule and things work out. This leads to an even greater lack of discipline. Stops don't work as well on the NASDAQ. On the TSE your stop becomes a market order as soon as there is a trade at your stop price. On the NASDAQ, when the trading action gets close to your stop the intermediate offers magically vanish for a minute and your stop is taken out before normal action resumes. Al