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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?


To: Ray. who wrote (3924)2/17/1999 10:26:00 AM
From: keith massey  Respond to of 62347
 
Just an update on the the use of stop losses.

Cutting my losses on LWN 6 weeks ago at $7.80 was brutal and cost me $3700. I know it is a small loss for some of the people on this thread but I am not use to losing money. Although lots of people sent me private messages before I sold telling me that the stock undervalued and should recover so don't sell, I decide to take the loss and move on.

Today LWN hit $3.50 without every selling above my $7.80 selling price. My $3,700 loss would now be a $16,200 dollar paper loss at this point. Just a reminder about stop-loss and cutting your losses.

Best Regards
KEITH