Fannie Mae-No Politics (FNMA)

[Daveknowsnothing]

Well...i did go through some of the getting robbed myself. The lesson I learned is you must have stop loss orders. You can't constantly watch these darn things! I've learned to use TRAILING stop loss orders based on "last" (not bid or ask). Since MM can bid and ask he can whip you in and out in a New York minute get his commission and your cash. At least based on "last" it's reality. Bid and ask sometimes have a wide spread. If you use Trailing Stop loss you get the upside but have protection if it goes south. Also, don't use Trailing Stop Limit Orders. The market can jump your limit order if the stock doesn't stop on that exact number. (Learned that the hard way). Finally, don't set them too close or MM will take your lunch again. Set them with what your comfortable losing. If it goes up and your making some money... slowly tighten up trailing stop to make sure you finish in the money. Yep it's another $7.95 (Fidelity) but pennies in the long run. It takes some fiddling with (watch price swings in chart to not get stopped out on normal fluctuation) but your not totally tapped out if something bad happens. Note also: Stop loss type orders are worthless overnight and are in play only during market hours. My experience only...not telling you how to run "your" business.