Your opinion is valued,

quote:

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Originally posted by webman:
I'm 8 mos new at this and have turned $1000 into $7000. I have a policy of to never sell at a loss and has worked so far. Now that I have found you all I'm not so sure this is a good idea. I have ISYN @ .013 and IDGE @ .011. Bought both at or near 52 week lows. So for the last 3 mos these have been "dead money". Should I sell and put into something with more action or just sit tight on these. This question is not necessarily directed towards these two but to "dead money" stocks in general. I would like to see this money working not just sitting there.

Your opinion is valued,

Greg "WEBMAN"

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MAN--I AM WITH YA EMOTIONALLY. WE ALL TAKE LOSSES AT SOME POINT. WHEN I FIRST STARTED I USED TO HANG ON UNMERCIFULLY. THAT WAS KIND OF THE OLD SCHOOL METHOD OF BUY A STOCK AND HOLD IT TILL YOU RETIRE. UNFORTUNATELY WITH PENNY'S IT JUST DOES NOT WORK THAT WAY.

MY STYLE OF TRADING HAS CHANGED A LOT SINCE I STARTED DAY AND SWING TRADING. NOW I CUT MY LOSSES REAL QUICK AND NEVER LOOK BACK. KIND OF SAD THO BECAUSE SOME OF THE STOCKS THAT I TOOK A LOSS ON DID COME BACK TO A POINT THAT I WOULD HAVE MADE A PROFIT IF I WOULD HAVE HELD ONTO IT FOR A YEAR OR 18 MONTHS.

IN TRADING YOU CAN'T REALLY LOOK AT IT THAT WAY THO. WHAT COULD HAVE BEEN--WILL DRIVE YOU NUTS. REALITY IS--WHAT IS RIGHT NOW.
EVERYTIME I HAVE SOLD AT A LOSS IT HAS BEEN AN INVALUABLE LESSON TO ME. IT HAS MADE ME AWARE OF SOMETHING I DID OR DID NOT DO THAT COULD HAVE PREVENTED THAT LOSS. MADE ME SMARTER AND MORE AWARE GOING INTO THE NEXT TRADE. A LITTLE MORE CONSERVATIVE AT TIMES OR GUN SHY YOU MIGHT SAY. BUT DEFINITELY SMARTER AND MORE AWARE. TRADING IS A PROCESS AND I DON'T THINK THE PROCESS IS EVER COMPLETE BECAUSE NO ONE CAN BE RIGHT ALL THE TIME. NO ONE MAKES MONEY ON EVERY DEAL. I TAKE PRIDE IN THE FACT THAT I DID NOT LOSE AS MUCH AS I LOST ON THE LAST BAD TRADE. LOL
OF COURSE THAT IS PRETTY EASY CAUSE I HAVE MADE SOME PRETTY BAD ONES. ANY ONE THAT PAYS 1.98 FOR (WEL) BOOTS AND COOTS. AVERAGES THAT DOWN TO .89 AND RIDES IT DOWN TO UNDER .30 CENTS. GOES THRU A REVERSE SPLIT AND IS NOW HAPPY AS A PIG IN **&^ THAT IT IS TRADING IN THE 1.40 RANGE IS NOT ALL THERE!!! NO DEAL I EVER MAKE WILL COST ME AS MUCH AS THAT ONE SO IT IS ALL BLUE SKY'S. THAT WAS A YEAR AGO. NEVER BEFORE HAD I DONE SUCH A STUPID THING AND HOPEFULLY I NEVER WILL AGAIN. (I STILL HAVE NIGHTMARE'S OF OIL FIRES AND POVERTY (MINE). I LOST 15,000 ON THAT DEAL AT ONE TIME AND NOW A YEAR LATER I AM ABOUT .50 A SHARE FROM BREAKING EVEN OR 7,000 LOSS. I ALREADY WROTE IT OFF AS A LOSS SO ANYTHING I MAKE NOW IS LIKE PROFIT. LOL I.E. LOGIC OF A DAY TRADER. NOW THAT IS A NOVEL IN THE MAKING. SEQUEL TO CONFESSIONS OF A DAY TRADER. LOL

JUST SELL IT..TAKE THE MONEY AND MAKE A BETTER DEAL THE NEXT TIME. IT WILL ONLY HURT WHEN THE STOCK COMES BACK TO THE PRICE YOU WOULD HAVE BROKE EVEN AT. OR KEEP IT AND WHINE LIKE A BABY THE WAY I DO OVER BOOTS AND COOTS. THE HIGH ROAD OR THE LOW ROAD. BOTH ARE WELL TRAVELED ON THESE BOARDS. LOL

uncle milty

quote:

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Originally posted by tradealldayyy:
Well at the very least - you'll have something negative to write against your taxes...
I've been doing the same thing and it's working for me. I, hoever, try to cut my losses as soon as possible if a stock takes a dive or looks like it'll take one.

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milty

quote:

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Originally posted by realityinc21:
WB,

MAN--I AM WITH YA EMOTIONALLY. WE ALL TAKE LOSSES AT SOME POINT. WHEN I FIRST STARTED I USED TO HANG ON UNMERCIFULLY. THAT WAS KIND OF THE OLD SCHOOL METHOD OF BUY A STOCK AND HOLD IT TILL YOU RETIRE. UNFORTUNATELY WITH PENNY'S IT JUST DOES NOT WORK THAT WAY.

MY STYLE OF TRADING HAS CHANGED A LOT SINCE I STARTED DAY AND SWING TRADING. NOW I CUT MY LOSSES REAL QUICK AND NEVER LOOK BACK. KIND OF SAD THO BECAUSE SOME OF THE STOCKS THAT I TOOK A LOSS ON DID COME BACK TO A POINT THAT I WOULD HAVE MADE A PROFIT IF I WOULD HAVE HELD ONTO IT FOR A YEAR OR 18 MONTHS.

IN TRADING YOU CAN'T REALLY LOOK AT IT THAT WAY THO. WHAT COULD HAVE BEEN--WILL DRIVE YOU NUTS. REALITY IS--WHAT IS RIGHT NOW.
EVERYTIME I HAVE SOLD AT A LOSS IT HAS BEEN AN INVALUABLE LESSON TO ME. IT HAS MADE ME AWARE OF SOMETHING I DID OR DID NOT DO THAT COULD HAVE PREVENTED THAT LOSS. MADE ME SMARTER AND MORE AWARE GOING INTO THE NEXT TRADE. A LITTLE MORE CONSERVATIVE AT TIMES OR GUN SHY YOU MIGHT SAY. BUT DEFINITELY SMARTER AND MORE AWARE. TRADING IS A PROCESS AND I DON'T THINK THE PROCESS IS EVER COMPLETE BECAUSE NO ONE CAN BE RIGHT ALL THE TIME. NO ONE MAKES MONEY ON EVERY DEAL. I TAKE PRIDE IN THE FACT THAT I DID NOT LOSE AS MUCH AS I LOST ON THE LAST BAD TRADE. LOL
OF COURSE THAT IS PRETTY EASY CAUSE I HAVE MADE SOME PRETTY BAD ONES. ANY ONE THAT PAYS 1.98 FOR (WEL) BOOTS AND COOTS. AVERAGES THAT DOWN TO .89 AND RIDES IT DOWN TO UNDER .30 CENTS. GOES THRU A REVERSE SPLIT AND IS NOW HAPPY AS A PIG IN **&^ THAT IT IS TRADING IN THE 1.40 RANGE IS NOT ALL THERE!!! NO DEAL I EVER MAKE WILL COST ME AS MUCH AS THAT ONE SO IT IS ALL BLUE SKY'S. THAT WAS A YEAR AGO. NEVER BEFORE HAD I DONE SUCH A STUPID THING AND HOPEFULLY I NEVER WILL AGAIN. (I STILL HAVE NIGHTMARE'S OF OIL FIRES AND POVERTY (MINE). I LOST 15,000 ON THAT DEAL AT ONE TIME AND NOW A YEAR LATER I AM ABOUT .50 A SHARE FROM BREAKING EVEN OR 7,000 LOSS. I ALREADY WROTE IT OFF AS A LOSS SO ANYTHING I MAKE NOW IS LIKE PROFIT. LOL I.E. LOGIC OF A DAY TRADER. NOW THAT IS A NOVEL IN THE MAKING. SEQUEL TO CONFESSIONS OF A DAY TRADER. LOL

JUST SELL IT..TAKE THE MONEY AND MAKE A BETTER DEAL THE NEXT TIME. IT WILL ONLY HURT WHEN THE STOCK COMES BACK TO THE PRICE YOU WOULD HAVE BROKE EVEN AT. OR KEEP IT AND WHINE LIKE A BABY THE WAY I DO OVER BOOTS AND COOTS. THE HIGH ROAD OR THE LOW ROAD. BOTH ARE WELL TRAVELED ON THESE BOARDS. LOL

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quote:

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Originally posted by old mullet:
i hope you understand the wash sale rule and your losses qualify.

uncle milty

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REALITY SUCKS--DO YOU NOT HAVE TO HOLD THE STOCK ONE YEAR FOR THE WASH SALE RULE TO APPLY TO LOSSES???

MY ACCOUNTANT HANDLES ALL THAT FOR ME AS I NOT ONLY CAN'T SPELL OR TYPE BUT I AM MATHMATICALLY CHALLENGED. I VISUALIZE WHAT MAKES MONEY. THE REST I PAY PEOPLE TO TAKE OF FOR ME. LOL

ALL I KNOW IS SHE TELL ME A LOT OF MY LOSSES CAN'T BE USED BECAUSE OF THE SHORT TERM THAT I HOLD A STOCK.

A lot of times the choice I make (right now seems to be lot) gets me stuck in a stock on which I start lossing & it seems eternal becuase I do not want to sell in a loss. Usually, for the ones, the day I decide to take the loss, it goes back up to cut even...That usually feels pretty bad..so what I have started to design in my process is that I have decided to only take a loss if I can counter act it with another stock which gives me the gain. This way I may not make a profit for myself for that day or week, but at least recover my capital & do not feel so bad anymore.

Actually, what Dadog does is the most recommendable. He practically buys & sells at a daily basis taking losses & gains & I am pretty sure he at least cuts even daily or makes something. I am trying to adapt to that but waiting for my new Ameritrade Account to pay lesser commisions.

Just for your comfort of the 10 stocks I own currently for daytrading, I think 8 are in red & the reason they are in red is because I do not want to take the loss (Some I even have it for a month & it is suppose to be daytrading). Fortunately, my own other rules has minimized my current virtual loss (you do not loss until you sell) - less than 20%.

What I am waiting for is the other 2 to rise to counter act my loss & sell all of them to get my capital out & start moving the capital on a daily basis (here & there)...Lets see how it works out. Fortunately one of the other positive pics I have is QBID....

Well, hope this helps from a perspective of another newbie. I jut started daytrading since Jan 15, 2004 & am learning a lot from errors. In real gains I have already made 1,100 USD, on a 8k capital, & currently virtually lossing 1.5 K of that 8k. I really do not know if this is good or bad. Not enough experience. My minimum goal is 40% monthly & my optimum goal is 65% monthly real gains. Lets see if I get there.

So far I am running slow. But as they say no pain no game & experience only comes from mistakes.