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

To: Jon K. who wrote (10677)	3/6/1999 5:29:00 AM
From: Tony B	Read Replies (1) \| Respond to of 56535

JonK - goals... I have no general goals. They change every time I enter a position. Whether it be a position play that I think has hit its bottom, a gap play for tomorrow, or what. No matter what tho, if I see my goal has been shattered (like no gap in the morning or a play falls thru the bottom), I'll bail on it. I'm never afraid to sell a loser, cause I hate losing stocks so that's my way of kicking their butt. I don't really have a set goal as far as $X/week. I just try to limit my losing trades by watching a limited number of issues and waiting for them to come to me. Also, I'm sticking to position plays for now (although I still will trade them out fast if I don't like the movement or I want to lock in a profit and wait to see its next movements) so I'm not risking nearly as much and not making as much. Currently, I'm only holding ADPT (at 20 3/4) and the rest of my trading account is cash. Waiting for a few other issues to come into my range. I'm a little shaky on the market next week, so I think a few will get to where I want them... Basically, if I know why I'm entering an issue (beforehand), I feel more comfortable and confident rather than jumping in on hype or a big move and then trying to justify it. llater, Tony B