Replies to post #23451 on Advanced Micro Devices Inc (AMD)

[Jack Hammered]

BUGGI1000 -

Thank you for the book recommendation. I'll check it out this weekend if I have a chance to.

I'm not a big fan of trailing stops. I have been shaken out before. I saw AMD trade at 14.77 after Intel's earnings came out. You have to feel bad for that person. Probably a stop loss that was triggered. I'm usually near my computer and prefer to pull the trigger myself. I do think they have a place - for some people.

With respect to having a plan I totally agree. One should know what they expect and what to do should the trade go against them. Cut bait and run.

Thanks for taking the time to reply.

Jack

[blauboad]

Jack Schwager - Market Wizards and Part II New Market Wizards

I second that recommendation. These books contain profiles and interviews of some of the most successful traders. Even apart from what you can learn about trading, these are fascinating people to read about. There's also a third book in the series which I haven't read, though I hear that it isn't as good. It was from the internet-bubble era, and the caliber of traders he interviewed is supposed to be lower than in the first two.