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<DIV><FONT color=#000000 size=2>I would submit that you are not
"stupidly" short AXP. The mistake was letting the position get
out of hand. AXP is currently at around 82 meaning you are currently down
8 points and change. That seems like an excessive stop or "room to
move" for any method or style.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT size=2>The number one rule of trading is preservation of capital and
proper risk management. I don't believe there are any "stupid"
trades. There are certainly trades that do not go the way we think.
When that happens we need to forget our egos and close the trade when our stops
get hit. To stay in a trade "hoping" it will eventually go our
way, or to prove that we were "right" is suicidal. There are so
many trading opportunities each day there is no reason to lose a significant
amount on any one trade.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>I know this doesn't help your existing position as only you
can make the decision on whether to stay or exit, but maybe it will help with
future trades.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Trade well.</FONT></DIV></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>Ketayun <<A
href="mailto:ketayun@xxxxxxxxxxx";>ketayun@xxxxxxxxxxx</A>><BR><B>To:
</B>RealTraders Discussion Group <<A
href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>><BR><B>Date:
</B>Wednesday, October 14, 1998 10:03 AM<BR><B>Subject: </B>any
thoughts?<BR><BR></DIV></FONT>I am stupidly short AXP at 73 3/4, any
thoughts if I should abort and at what price?
<P>TIA
<P>Ketayun </P></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Wed Oct 14 09:08:56 1998
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From: "Richard Chehovin" <GalacticFXInternational@xxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Galactic Daily FX Update
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<DIV><FONT color=#000000><FONT size=3>DENVER, CO, USA - FX MARKET UPDATE -
10/14/98</FONT></FONT><FONT size=3></FONT></DIV>
<DIV>
<HR>
</DIV>
<DIV> </DIV>
<DIV>SUMMARY<BR>Comments from two German central bank officials suggesting a cut
in German interest rates lifted the US dollar marginally in overnight trade,
however, large dollar sell orders continue to limit any dollar gains. US
Retail sales rose a 0.3% in September, compared to forecasts for a 0.6%
rise.<BR><BR>EUROPE<BR>Bundesbank officials Ernst Welteke and Klaus-Dieter
Kuehbacher surprised financial markets last night by suggesting that Germany
could lower interest rates before year-end. Germany's present interest
rates are nearly 150 bp lower than other high-yield EMS countries. Despite
concerns of European monetary officials over the sharp decline in the US dollar,
European Central Bank President Duisenberg stated that recent calls for
worldwide rate cuts were inappropriate. The sharp drop in British average
earnings growth for<BR>the month of July has analysts predicting another British
rate cut as early as November 5.<BR><BR>ASIA<BR>The Japanese yen strengthened
against the German mark on the back of Bundesbank officials' comments.
Japan's Nikkei stock index closed down 172 points on disappointment over the
bank bailout plan. The Japanese Economic Strategy Council recommended that
Japanese banks be forced to accept government funds to provide the capital
needed for a Japanese economic turnaround.<BR><BR>NORTH AMERICA<BR>The Canadian
dollar opened largely unchanged. Analysts are expecting no surprises from
Canadian Finance Minister Paul Martin's annual economic update later
today. Disappointing US retail sales data suggests that the US consumer
may be scaling back spending because of financial market turmoil. </DIV>
<DIV> </DIV>
<DIV>Respectfully,</DIV>
<DIV> </DIV>
<DIV>Richard Chehovin</DIV></BODY></HTML>
</x-html>From ???@??? Wed Oct 14 09:21:13 1998
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Date: Wed, 14 Oct 1998 12:04:42 -0400
Reply-To: futures8@xxxxxxxxxxxxx
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: Jim Duffy <futures8@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Web Address Andrews/Newton
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mitch;
Would you post the web address for the Andrews/Newton site? Haven't been
able to find it with search engines.
Thanks.
Jim
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