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Hi Ira:
I believe in my case it's more to do with greed and trading discipline.
Before I do the trade, I have these figured out already:
1. Specific series of the call
2. Time to get in
3. Price to get in
4. Number of contracts to buy
(No stop loss)
5. Exit conditions (oscillator indicators; profit-target; maximum stay
period) per the stock
itself
I actually use a trading system in TS4 for buy/sell/exit signals.
Thing is: Very often, I don't follow the sell signals. A lot of times, it
works and I have huge gains. A lot of times it doesn't work and I lose -
everything.
A former broker of mine once commented: 100 people trading the same "best"
system will likely have 100 different results, even though they have
exactly the same buy/sell signals on exactly the same days, because
everyone's aspiration etc etc is different.
An iron-disciplined trader (in theory) would have stuck to the system's
recommendations without deviation, I think.
Regards,
Wong
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At 02:37 PM 01/20/2000 -0800, Ira Tunik wrote:
>It is not trading discipline that is lacking, it is trading. Options where
>meant to be traded, not held in perpetuity. Did greed creep in there a
little?
>Ira
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