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Hi Ira:
Thanks for your input.
However:
1. The humbling experience is that I was TOO overconfident and greedy and
didn't take profit. The
actual trades have been very good.
2. Mine is really not a "sad" story. In fact, as long as the Nasdaq will
eventually revert back to
the bull side, I'm extremely confident that the MSFT leaps trade and many
others will be extremely
profitable. (It seems Nasdaq may revert back to the bull side within the
next one or two weeks,
barring any unforseen unpleasant events. I will be getting out of a lot
of my profitable trades
when that happens - some calls are actually expiring in June and July...)
With respect to the 2002
leaps, time is on my side, as long as there is a bull market...
I'm very glad we can exchange ideas again.
There are many ways to make (or lose) money. Tight money management (e.g.,
never take home a losing trade) is definitely an excellent component in a
winning trade. On the other hand, averaging down (given certain
circumstances, such as: the continuation of a bull market, pre-determined
level of risk etc) can work beautifully as well.
Regards,
Wong
======================
At 05:53 PM 06/02/2000 -0700, Ira Tunik wrote:
>I have read this post and several others by those who average down. An old
>traders adage is "never take home a losing trade" and " the first lose is
the best
>lose". Trite, but true. The biggest problem with trading is that you have to
>admit your wrong. A real blow to the ego of those that haven't the
experience of
>trading and don't realizing that it is part of the business.
>I have a sadder story then yours.ve a good week end. Ira
>>wong wrote:
>
>> Hi All:
>>
>> It's quite a humbling experience for me in the last few weeks.
>
>
>
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