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Pastimes : Robin Dayne - Mastering your Emotions -- Ignore unavailable to you. Want to Upgrade?

To: Shoot1st who wrote (52)	5/27/1999 10:46:00 AM
From: Herc	Read Replies (2) \| Respond to of 121

The way I handle the stress of declining values is to be detached from the money. Getting stopped out at a loss just provides you with an opportunity to buy in lower and make even more money. So a stop loss isn't losing money; it gives you a chance to make even more money. The commissions you pay for a round turn, even if it's quick, is just an insurance premium for piece of mind. And I have only missed out of a rapid rise of a stock ONCE (after I sold it), and I could have circumvented that with a buy stop slightly above my sell price. I think this is the mentality one needs to be a successful trader. Also a knowledge of TA definitely does help with intelligent stops and limits.