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

To: New Economy who wrote (8210)	4/21/1999 5:05:00 PM
From: the Chief	Respond to of 62348

I bought BII @ 15.75 & 14.25 this morning... Based on the volatility I set my stops @ 13.95 on 3/4 of my position. First mistake, no stop! You had already lost $1.50 on your first purchase. Second mistake no buy signal on the chart, that I can see at $14.75 unless you bought right after the drop. In which case you should have sold as the stock dropped off at 10:30...or momo was failing. First correct thing; stop at $13.95 allowing .30c loss on $14.25 buy. The stock was in a free fall by this time stop got hit! In the past I never used Stops but would set a price I want to achieve for the stock and put in a limit sell order instead. Which supports what I was saying, people go in with idea on how much they want to make, but not how mnuch they are willing to lose! Your $14.25 buy stopped you out at $13.95, the stock fell to $12.85...it saved you, your purchase at $15.75 was the major error because you had no stop until you averaged down!! the Chief