Re: Week in Review - shorts on AMAT & NWAC

[Harley Meyer <meyer@xxxxxxxxxxx>]

Al,
I have to say that some of the last few posts you have sent me have been
very helpful. Your post on booking profits was important to me. (and if you
haven't noticed I use that same terminology now.)

Then there was a comment you made recently about cutting your loses as a
trader and going on to the the business of trading. That has also stopped me
in my tracks to adjust my trading style. In a nutshell I would accept draw
down and loss of time and other trading opportunities to have a winning
trade. But now that my account is growing and I can trade with larger lots.
It becomes more practical to do as you suggest. Now I have to change my mind
set.

This post tells me to keep things in perspective. It doesn't mean I am going
to change my perspective on lost opportunities. Because part of the learning
curve is to be able to find opportunities in the market. And working hard at
finding opportunities can be stressful. Let alone the psychological effects
of trading. But now I will have a different emotional balance as a result of
your post. Again very helpful for my trading.

Thanks for helping me become a better trader over the last few months.

Harley

Al Taglavore wrote:

> Harley Meyer wrote:
> >
> > Last weeks trading in terms of bottom line was
> > good. But in terms of decision making I am not
> > very pleased with last week.
> >
> > NWAC - I had a little over $400 on the table. My
> > mistake was not to realize that the stock wasn't
> > really going lower in the short run as determined
> > over the previous two days prior to the
> > announcement of the strike ending. Then the strike
> > ended and the $400 is now about $100 on my first
> > 100 shares and -$100 on my second 100 shares. ========
>
> HARLEY: The way I read this, you captured 50% of the move.  This is bad?
> Larry Conners, who co-authored "Street Smarts" once told me that he is
> pleased to capture 1/3 to 50% of a move.  It would appear to me that the
> question is where would you re-enter the trade.
>
> Know what they call a baseball player that doesn't get a hit 60% of the
> time?   MVP.
>
> ========================
> Al Taglavore