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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: dpg48 who wrote (40178)	5/14/1999 12:55:00 AM
From: Junkyardawg	Read Replies (2) \| Respond to of 90042

I had the same problem. I was given an account to trade and my first stock that I bought with this account was EFAX. I bought it in the $8 range. (I got very very lucky on this stock) It went crazy and I did not know what to do so I sold half my position at $13 and I thought it would probably level off. The next day it shot to $16 and I sold the other half of my stock for $15. I felt great I made a lot of money on that stock. But guess what happened? The very next day the stock went completely nuts and shot up to $33 a share. I got very depressed because I left so much profit on the table. But Tim brought me back down to earth. Never ever let your winners turn in to losers It is one of the hardest things to do in trading stocks but if you simply right down that rule and put it where you will see all the time and live by it, you will have money left when most other traders have gone broke. BTW: I still let my winners turn to losers sometimes and I do sell to late and I do sell to early. Any trader that says he/she doesn't lose money trading stocks is a flat out liar. Everyone loses sometimes. Just try to have more winners than losers. dawg