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Hi all
My gambler friend once wrote something about the stops..."It is like leaving
your wallet on a street in New York City. You can be sure it will be gone."
Prefer to use mental stops...
Gary
Earl Adamy wrote:
> There are cases where stops are run in spite of good placement (had it
> happen yesterday on short in crude). Generally, however there is a message
> when a well placed stop is run and that message is that the trader was wrong
> about the market. The act of placing the stop in the market is a commitment
> by the trader that he/she will acknowledge the mistake.
>
> Earl
>
> ----- Original Message -----
> From: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Sent: Thursday, May 06, 1999 11:20 AM
> Subject: Re: Stops/Michael
>
> > My rule is to never trade naked. Funny how many nudist traders there are.
> Ok
> > for you that don't understand, when you have only a short or long position
> > you are considered naked (if you always trade naked you are a "nudist
> > trader"). So my rule is to always use options for trade protection and
> never
> > use only stops. Usage of stops is very peasant for the stop runners, they
> > will get you about 89% of the time in my experience. So learn how to make
> > lemonade out of your lemons if you want to be a really good trader.
> >
> > Brent
> > -----Original Message-----
> > From: Michael <comdytrd@xxxxxxxxxxxxx>
> > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > Date: Thursday, May 06, 1999 10:49 AM
> > Subject: Re: I refere to earl adamy "june bonds " message
> >
> >
> > >Bottom line...NEVER trade without a stop ... If you don't know where you
> > >are going to exit a trade, then you have no risk/reward parameters in
> mind
> > >and you have a poor trade and a potential disaster...
> > >
> > >Learned this the hard way
> > >
> > >Michael
> > >
> > >
> >
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