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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: tom pope who wrote (8074)	2/8/1999 8:56:00 PM
From: Susan Saline	Read Replies (2) \| Respond to of 43080

>>>Stayed with LCOS when it was clear the market hated the sector, NETS they fall fast but they often rebound just as fast. I should not admit this ... But at one time, early in my trading of it, I let INSP fall almost 10 dollars. Luck was with me, and within a couple weeks it rebounded and eventually gave me a small profit. But during that time ... I had a couple sleepless nights, and the tums were a mainstay in my diet. The lesson I learned, was to set a stop a dollar below my buy price, almost as soon as I buy. I don't care if mm's see it or not. If I counted on a mental stop loss working ... the hope factor would sneek in and let it fall a couple more dollars, then I panic sell ... just when the buyers are coming back. The chances are, if it falls a dollar, it will fall a heck of a lot farther than one dollar, if the wrong entry has been picked. Most of my stop losses, are alerts... or mental stops. BUT not the nets. They are 'real' entered stops now ... INSP closed just a tad above my last entry ... if it gaps down 3 or 4 points ... ah ... that is where I have a problem ... to solve <ggg> I looked at the nets tonite, about a hundred different tickers. 95% closed red .... so ... what comes down must come up ... so net rally tomorrow ... lots on sale Sue