3SOF

David, I understand the importance of trading to a plan and maintaing that strict discipline,  BUT you also need to let your winners run.

By setting a stop at 2.44, what did you possibly have to lose?

david i read an article in the n.y. times i while back about this major trader stevey cohen lives in conn. took home last year 300 mil in profits anyways they wrote that he was so cool you couldnt no if he was having the best day of his life or the worst .regards your doing great david

Quote from: David Randolph on August 08, 2005, 10:29:08 AM
Be cool, there will be plenty of opportunities like this.


You want to keep yourself emotionally balanced. How to do it? I know a trick. It's so natural to be upset when you lose and happy when you profit that you must contradict these feelings to get back in balance. So, what I do, is I'm always nice and happy when I have a losing day and I'm a bit more serious and melancholic when I win. The more I win the more angry I get !

My wife never knows if I lost or won at the end of the day 

David,  Best advice yet. Wil try to follow.

BCON may become $30 stock within one year. During the last few years, the company is in development stage and its device now passed testing stage and is going to be installed.

The revenue and profit will follow.

QuoteThis was a great pick David. I got in at 1.80 and out at 2.60, and I can't be angry with a 44% gain. I have played a couple picks from this site but this has been the best and you will be receiving a donation from me for this one(though a small one since I'm still a small trader) Thanks a ton.

Thank you statementoo, you will get double your money in subscription fee after October 1st.

QuoteDavid, I understand the importance of trading to a plan and maintaining that strict discipline,  BUT you also need to let your winners run.

By setting a stop at 2.44, what did you possibly have to lose?

Well, in this case I would have lost $0.07 per share, since $2.44 was the exact low of the day and I sold at $2.53 .

But I got your point of using a trailing stop rule.

Quote from: freimuch on August 08, 2005, 10:47:35 AM
david i read an article in the n.y. times i while back about this major trader stevey cohen lives in conn. took home last year 300 mil in profits anyways they wrote that he was so cool you couldnt no if he was having the best day of his life or the worst .regards your doing great david

Yes, that's the way to play this game if you want to have a good social life and good health too  The feelings about winning and losing are so strong that only making an unnatural effort of contradicting them you can be more or less always at the same emotional spot.

You should feel love, fear, happiness and sadness, but not related to stock market events. After all, it's only money 

QuoteDavid,  Best advice yet. Wil try to follow.

Great Pete, it's not easy, you need some training to do it well. But after some months doing this you'll feel much better about your social life (doesn't mean you feel bad now, of course, I talk from personal experience) and transform an unnatural thing into something you're used to do. In the long term it improves your chances of being a successful trader too, because you see things more clear and objective if you take out emotion from your market analysis.

Hi, Dav:

  I looked at your trading log, you sold it today.

  Too early. You can make much more profit. But anyway this is a very good play.

 

David,
Thanks so much for the BCON analysis, excellent work, donation on the way.

Looking forward to your future recommendations and to growing my brokerage account along side your exciting new venture!
Best regards,
Steve

David, why not just set a stop at 2.44 and let it run?
How can you set a stop loss order? I understand from my online broker (TDW) that you cannot stop otc/pk stocks ? Thanks for some clarification, Don.

Apparantly a trailing stop loss will work for OTC, or it could possibly just be my broker.

David, again nic pick !! 
actually BCON is traiding higher becuase of the new energy bill signed yesterday by George W. Bush.
I have also sold with 40% profit (too early )
please check MCEL carefully (will post it under stock picking)

QuoteHi, Dav:

  I looked at your trading log, you sold it today.

  Too early. You can make much more profit. But anyway this is a very good play.

Thanks Shawfund, yes, I sold too soon, but I'm proud of having the discipline to follow a previously made trading plan.

QuoteDavid,
Thanks so much for the BCON analysis, excellent work, donation on the way.

Looking forward to your future recommendations and to growing my brokerage account along side your exciting new venture!
Best regards,
Steve

Thanks a lot Steve, we got your donation, this will value it's double in subscription fees after October 1. Today I'll look for one or two stocks with attractive risk/reward ratios.

QuoteDavid, why not just set a stop at 2.44 and let it run?
How can you set a stop loss order? I understand from my online broker (TDW) that you cannot stop otc/pk stocks ? Thanks for some clarification, Don.

QuoteApparantly a trailing stop loss will work for OTC, or it could possibly just be my broker.

BCON trades on the Nasdaq, not the OTCBB or Pink Sheets.

QuoteDavid, again nic pick !!  Cheesy
actually BCON is traiding higher becuase of the new energy bill signed yesterday by George W. Bush.
I have also sold with 40% profit (too early Embarrassed)
please check MCEL carefully (will post it under stock picking)

I'll take a look at MCEL at the Stock Picking Board when I get some time ... I still have some things to do before the open. Thanks for your post 

David, great call. 41.95% is truly amazing to me in that time span.

However it is your discipline that I am learning that is so beneficial.

Thank you for going beyond the great picks.   

Larry

Is there, now, a good buy-back-in time? Buy & hold for a time?

This is another technical play...

The reasons of this reentry:
- We are still Bullish on BCON for mid-term.
- In just 2 candles, BCON is now 30% below the highs of this rally;
- This deep move was made with decreasing volume...
- BCON opened a Gap UP which was totally filled yesterday.

So we believe this could be a good price level to buy back BCON.

I'll probably add BCON to the 3Stocks Portfolio near the open.
(I'll post here later the entry price).

Best regards,

The market agrees. +17% 240K shares traded in pre