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Linda,
Let's say that you were trading DELL and you enter at 111 7/8 and you watch
every tick that is going by...it's trading at 111 3/4, 111 7/8...then all of
sudden, the bid is lowered and it hits 111 11/16... I thought this was going
higher but now my conviction is shaken and I don't want to take a big loss,
I'm getting a bit nervous..well, now the stock has hit 111 1/2...-3/8....so I
bail at 111 1/2... then 2 minutes later, it takes off in the direction that I
had expected it too.
or here's another scenerio...
I enter DELL at 112 right before it takes off.... great the stock is
moving,,,,wow, it's at 112 1/2 1 minute later...oh, no, is it faltering..it's
hit 112 7/16, now it's 112 3/8...I don't want to lose my profits, so I sell!
one minute later..the stock goes on it way with out me....all the way to 114 .
I used to get shaken out of trades like that all the time... I confess, I
still make the same mistakes still ( just not as often as I used to.) I have
learned to rely on my TA= Technical Analysis and the indicators I use... You
need to develope a system that will work best for your type of trading. I
have made many mistakes in trading, I think they are important because it
forces me to examine why I failed and what I need to do to become a better
trader. It's not an easy path that we have taken. I wish you all the best!
Dev
Could you please elaborate on this comment? I can't take my eyes off the
screen, but as I said I'm scared to death of holding a loser. And what does
TA mean? Thanks for your time!
And when you are first starting to use L2, there's a danger of watching it
>too closely and watching every tick. Just follow your TA and don't let the
MM
>shake you out. I had to learn this the hard way.
>
Linda Swope
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