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Yes, I enjoyed the oil and gas pop after the (selfserving?) report
from Goldman.
Mental stops are tough for us EOD guys.
--- In equismetastock@xxxxxxxxxxxxxxx, "Martin Blain" <martin@xxxx> wrote:
> meta
> You can have all the stops you want and will still get plowed under
if they hit.
> Yesterday and today's actions is exactly why I only use mental
stops. Being mostly invested in gas and oil I think you can see why
after today's action.
> Buying at the right price and for reasons that are still obvious at
a later date is most important if only so you don't embarrass yourself!
> Martin Blain
> Burlington Ontario
> ----- Original Message -----
> From: metastkuser
> To: equismetastock@xxxxxxxxxxxxxxx
> Sent: Thursday, March 31, 2005 11:41 AM
> Subject: [EquisMetaStock Group] Creamed?
>
>
>
> How many of you have gotten creamed this quarter? I did on some of my
> positions because of a lack of...... DISCIPLINE!
>
> Thought I'd share this excerpt from an article today (emphasis is
> mine). It is so, so true:
>
> ************
> Trading is a lot harder than it looks. We can do everything right but
> still crash and burn after we pull the trigger. Surprisingly, finding
> good positions is the easiest part of our jobs. Managing them into a
> profit is far more difficult.
>
> This exposes an uncomfortable truth about our participation in the
> markets: Most of us fail because of a lack of discipline, not a lack
> of knowledge. In fact, there's only one method to deal with this
> career threat. HONOR YOUR STOPS. We're not investors, so we can't act
> or think like them.
>
> Many traders ignore their stops, or don't place them at all. But it
> can be hard to get out of a bad position gracefully without a
> preplanned exit strategy. Unfortunately, many folks just hope for the
> best after they assume equity risk. But sooner or later, market
> dynamics will force them to pay the price for their laziness.
> ************
>
> More trailing stops talk anyone???
>
>
>
>
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