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

To: George Schulte who wrote (13804)	5/2/1999 9:30:00 PM
From: snerd	Respond to of 56537

Hello George, welcome to the thread! Zora will be along shortly to answer your questions. I'm still a newbie myself. ; ) Snerd

To: George Schulte who wrote (13804)	5/2/1999 11:26:00 PM
From: zora	Respond to of 56537

George I consider myself a newbie and a lucky one at that. When I buy a stock for a daytrade or a short position, I expect it to go up. I do not want a pull back. I do not actually put in a sell order at a certain price. I watch and if I think something has changed to prevent the stock from reaching my goal, like $1 increase, I sell it. However sometimes if I think the stock has real value, I just hold. Like I am still holding DELL, WCOM. I have had a stock pull back and I didn't get out. I am holding GEEK at a 25% loss right now. I sold AOL hoping to buy back lower. Well it did go lower but I wasn't there to pick any up. ISP problems. I sold my GE hoping to buy back lower in a few days, never happened. I am learning the ways of TA and believe that what goes up, comes down, and visa versa. But the only time to know those highs and lows, is in hindsight. DELL maybe behaving as you have noted but the one time you make the trade, the market changes all the rules. Outside influences, Greenspan speech, Clinton stubs his toe, you have heartburn, all of these can mess up everything you planned. We all want to buy low, sell high and buy it again lower. I believe only the lucky will survive. I am thinking of changing my alias to Luckie. <g> While you learn, make smaller trades. By limiting the up side and the down side, you will preserve more capital so you can trade again. My second trade was KTEL, so the 13K gave me a real strong cash flow. I held that stock for 30 hours and one sleepless night. But what a rush! My best wishes for your financial success. zora