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Re: SunKingBeerPlz post# 4706

Friday, 08/13/2010 4:56:41 PM

Friday, August 13, 2010 4:56:41 PM

Post# of 72584
Okay, just taking things from a pure trading perspective, I'm guessing you bought it on the pop; the amateur way to go about it is to hold on and wait for the next pop to get out. the extra amateur way to go about it is to average down and wait for a smaller pop (we can go into it if you don't understand why averaging down is the worst thing you can do). The professional way to go about it is establish a stop loss and obey it. That somewhat is determined by where exactly you got in, but just technically you shouldn't be holding this if it CLOSES below .002, you can give yourself a little breathing room and wait for two consecutive closes below .002, but if you are waiting beyond that you are not actually trading anymore, but forcing yourself to become an investor, which is a big discipline no-no.