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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (20621)	4/26/1999 8:52:00 AM
From: xcr600	Respond to of 68145

Harry, believe it or not, I don't use any stop losses. I go with more of a "gut" instinct. Usually works better for me. I used a stop loss once w/Etrade and received such a terrbile fill that I said forget it. Unless you buy a real dog (3rd or 4th tier, ex:PRFM), then I'm not all that worried about being stuck with it for a few days. I won't chase a stock up either. Generally on a buy, I will use a limit order 10%-20% lower than the closing price, and see if I get a fill. If I don't then I miss out. I sell when I feel like the return has been too great to pass up (i.e. 30% in one or two days!) May leave some $$$ on the table, but a profit is a profit. I also will sell out what I have in the stock, and then let the rest ride. It's the "house's" money at this point. I did this most recently with BID.com when it was on the Toronto exchange looking to get listed on the Naz. This prevents me from losing anything out of my equity, and seeing if the stock will run (which this one did). One last thing, if it spikes really high, or gaps open really high, then I basically consider it's run over, and will exit the position. This doesn't apply to a co such as YHOO, but more of the inet momentum stocks. This rambling help at all?? x