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The market does weird things from time to time and thats one of the hardest things to do in trading, is to figure out when these things will happen. Of course if we knew that then there would be no edge in trading. I know its never fun to lose when trading, however all of us that do trade KNOW that this is part of the game, so we accomodate for it (w/stops, money management , etc) The one thing that I do know is that in spite of your loss, the fact remains that you still did the right thing, you got OUT! and you should never punish yourself for doing that. But now the hard thing is to not let this trade influence you the wrong way the next time your in this position. Because the tendency will be to hold on, only that time it may not come back. and then yes trading will really suck...
Troy P
wallst@xxxxxxxx
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From: Troy Kelley[SMTP:tkelley@xxxxxxx]
Sent: Tuesday, July 21, 1998 1:15 PM
To: RealTraders Discussion Group
Subject: trading sucks
I am trading 2 s&p contracts.
I went short at 10:15 today, and the market came up and took out my
stop, so I did a reversal and I went long at 10:17 and the market
screamed back the other way against me. I lost 1,500 bucks in about 5
minutes. That is about one weeks worth of hard earned profits, gone in
the blink of an eye.
Troy
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