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Examples of the stop scenario mentioned by Mervin below that have
happened to me are far too frequent, but most stops that are triggered
save me money. Sometimes they get me out at what seems to be a swing
extreme and then the market makes me glad I bailed. One also can't
overstate the peace of mind that comes with being out of a bad positon.
One trade which is not working out for me usually distracts me from
several that could be working.
Rob Barnes:)
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"Hi, RTs,
I remember that in April, 1996, I went long wheat. I got in too late:
i.e.
in the middle of the move. In order to protect myself, I placed a stop
just
in case. It did fall--It gapped open on the next day. I stopped out at
518, the lowest point in the whole correction. My broker tried his best
to
persuade me to get back in. I didn't. Wheat went on to move to above
700.
I was devastated.
Mervin"
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