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on 12/1/00 6:54 PM, Ira Tunik at ist@xxxxxx wrote:
> Was it you or your system that broke down. You shouldn't have to say after 8
> points I quit. Did you trade your feelings or what your system told you to
> trade? There is something basically wrong here and it is either you or the
> system. There is no solution without a lot more information. Ira.
>
> Brian Keith Voiles wrote:
>
>> I have a question: At what point do you (meaning everyone in general)
>> call it quits for the DAY when you're losing? And how do you
>> discipline yourself to actually stop and quit, and not try to "make it all
>> back"?
>>
>> I'm wondering because I had a great week in the S&P this week, up
>> until today. Monday was a 3-point gain, Tuesday was a
>> 5-point gain, Wednesday was a 9 point gain, and Thursday was a
>> 9.5 point game. Now... here we are on Friday... and I lost 19.7
>> points (ouch!). So grand total I made 6.8 points this week on
>> 18 trades... a net win of $1232... but could'a been a lot more if I
>> hadn't responded so emotionally today to this:
>>
>> My first trade today missed the limit by 1-lousy tick.... then it
>> turned around and hit my stop -- minus 4.7 points. Second trade:
>> the same thing happen -- minus 5.5 points.
>>
>> So those two events got my emotional-juices flowing. But, you
>> see, I have a written rule staring me in the face that says
>>
>> "REMEMBER: a loss of 8-points and you're done for the day, no
>> matter what!"
>>
>> So I ignored it. Here I am after the session realizing that may be a
>> rule I can't live with. After-all, I'm the "come-back king!".
>>
>> Well, I'm looking for all you "old-timer's" advise on this. What
>> rules do you follow and how do you mentally and emotionally
>> disconnect enough to quit while the losses are "small"?
>>
>> Thank you,
>> Brian Voiles
>>
>>
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>
>
>
> To unsubscribe from this group, send an email to:
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>
>
Brian: Until you can learn to sell, you will be someone else's meal. There
are two kinds of people in the markets: those who can sell and the suckers.
O'Neil says it takes about 4 years to learn to sell; it took me longer.
Sorry to be a downer, but that's the way it is.
best.....jerry
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