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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: snerd who wrote (2659)	12/28/1998 4:57:00 PM
From: Tony B	Respond to of 56535

snerd - stops - Better to be safe than sorry. I've hit quite a few mental (and real) stops only to see them runup. We might kick ourselves once or twice, but the one that drops 10+ points after the sell will help us breathe easier. g Seems like you're doing great with some nice gains. I seem to have hit a lot of losers recently, so I'm holding a few instead of trading. Hopefully a short break will clear my head. Not too long since I have to much fun (even losing!). llater, Tony B

To: snerd who wrote (2659)	12/28/1998 4:58:00 PM
From: Cookie Monster	Read Replies (3) \| Respond to of 56535

I think we are all guilty of setting stop losses to high Snerd. I was looking at NAVR for example at $10.50 after I bought it and wondered if it was going to tank. I didn't panic and sure enough it climbed back to $11.25. I think the moral of the story is that we should all really be trading stocks we understand, and by that I mean stocks we have followed for days, weeks, months, or years. By doing this, we understand thier trading patterns and the market for each stock. For example. I have been following GRDN (guardian technologies) for a year or so now. Today it dipped below $1.75 and I know that this is the bottom for this stock. I bought in and I can rest easy knowing it will bounce back to it's normal trading range of $2.25-3.00. Not praying for a run....but instead being dillegent enough to follow this company (which I think will also be a big success in 1999) to know that I can make money when weak sellers come into the market. I guess my point is for most of us, unless you are a great trader with tons of experience, watch the stock for a while....then move in. Most traders work the same stocks over and over again all year long.