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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: EaglePutt who wrote (4188)	12/29/1998 6:48:00 PM
From: Paul A	Read Replies (3) \| Respond to of 90042

heh.. your not kidding about the AA feeling.. I remember reading the book, and no matter HOW much sense it made the very next day I sat and watched a 1 point loss go to 2, than 3.. on top of it I averaged down with even MORE shares and boom, another point.. another.. you get the point! I dont think stressing the importance of cutting losses can be shouted loud enough. Its sad but everything in 'trading for a living' regarding that issue is too true.. Now I cant even use stops so I really have to rely on strict rules and deal with it. One reason im getting out of these internets (yes-again) is because sure the returns are great when it works your way, but the downside is very difficult to work with. Even with a stop, youll get a fill 1/2 or more below that because once the momentum shifts there are nothing but sellers.. The oil sector has me very interested so far as trading.. call me crazy, but the one thing it offers is very easy account managing. Lots of the big ones like RIG, RON, GLBL can fluctuate a point or 2 in a given day, but you can easily identify support levels and hold positions for several days in an attempt to get that point or so. What im trying to say is the returns will be small but the downside is very limited on a day to day basis.. Tim- I saw FORE.. my God! I agree with you, too crazy.. Best thing in my opinion would be to watch it crash and buy a few hundred for position. FORE is notorious for 'leaks' and ill bet a buck that they have an earnings warning on the way.. Still holding MRL.. almost sold today but even after the bad HAL news, they all held very well.. MRL should take another run just above $8 if OIL continues to stabilize, no? ... I tried to get PETM but for some damned reason, the NASDAQ button dosnt always works.. once the bell rang, I decided the markets just too damn expensive to play until next week and all that new money comes back!