Replies to post #437490 on Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

I have taken mega losses before (the most recent UNA), but OLGR, I played knowing it could drop to under $12, where I may double up. Eventually, I hope I recoup that one. Remember, it has been quite good to me in the past. Thank you for mentioning it. It trades very much like ABIX in which I am currently under water as well, but after collecting some nice multi buckers just before my last deeply discounted entry.Covered the IBM short at $85.22 for $.27 loss, fully covered by the half bucker taken on it yesterday.

[osprey]

What's wrong with stop losses? FWIW, in my view the only reason not to have (mental) stop losses is because one hates money. And are determined to die poor while generously donating your account to MMs, Wall Street, and canny shortsellers.

To be sure, I don't always follow my own advice. A few times this year, a position rather unexpectedly and very quickly went against me. The old brain just froze up and refused to believe it was happening. The I'm right and the market is wrong excuse. Then after my head is cut off, I get to carry it around under my arm. Another learning experience.

Risk management strategies will go a long way towards improving the net profits and are mandatory. Wish I was better at it.