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Mervin wrote:
>I remember that in April, 1996, I went long wheat. I got in too late:
>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,
1. you followed your plan
2. you placed a stop
3. you didn't listen to a flakey broker
I consider this trade a success...perhaps not financially, but psychologically. You did 3 things well. If you had gotten back in on your broker's advice, I think you would of been far worse off.
Andy
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