Thanks Corey for the insight.
Don's Openings, Part 6 2003
- Thread starter Don Bright
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Lescor,
You are the poster boy for the old saying that "winners keep records, losers don't have to". I am also a meticulous recordkeeper and have found that it gives me the confidence to press the winners and totally avoid the losers and know when a stock becomes one or the other.
Best of luck in 2004. Hope the bashers keep bashing the opening play!
BigMike
You are the poster boy for the old saying that "winners keep records, losers don't have to". I am also a meticulous recordkeeper and have found that it gives me the confidence to press the winners and totally avoid the losers and know when a stock becomes one or the other.
Best of luck in 2004. Hope the bashers keep bashing the opening play!
BigMike
-------------------------------------------Quote from mdl060374:
Whne I was running OO's, I found this to be the case also..
It works great and you make good gradual $$$. then you get tattoed a few days in a week, and you lose confidence..
It pretty much happened twice. The fist time I just got hurt, plain and simple, and the second time, I had locked in my pre-market futures in @ 9:15 and didnt see the minis turn dramatically b/4 the open.
My software package was the old one (never got the e:mail to upgrade) and didnt update the spu's until teh open..
Needless to say, I got hurt b/c my price envelopes were off vs. the opening spus..
Anyway, my question is, on the days you get hurt, is it mainly one or 2 losers that kill you, or the overall market action?
Out of my 3 bads days this month. One day was specific stock related where I had 2 stocks gap 50 cents or more away on me. No chance to do anything.
The second day I screwed up and did not follow my exit discipline and I let my losers build on me as the whole market turned against me. I convinced myself that it was going to reverse back but it didn't.
The third day it was stock specific again but my blunder for not taking out stocks with earnings out of my program.
ROFL....I showed my brother this one....How many times, over the last couple of years, have I had to finally say "OK, OK, just don't do it...if you don't think it works, just don't do it"....LOL....
Still a good starting point...and a great learning tool....I am bringing back experienced traders to "re-train" them in the basics so I can then use the tape reading aspects to point out what we do the rest of the day as well.
Naz=2003 in 2003, how cute!
Back to it next year...see you all Friday...
Don
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