Re: [CANSLIM] Mindset comment - was BCGI big dip

From: Fanus <fanus13@yahoo.com>
Subject: Re: [CANSLIM] Mindset comment - was BCGI big dip
Date: Thu, 17 Jul 2003 20:53:56 -0700 (PDT)

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Tomas

I can't really add anything to to all the other
replies, but I want to say something about your
comment that you consider this tuition fee. I agree in
this instance you couldn't have done much, but be
careful to get into the mindset of writing all losses
off as tuition.  I have done the same thing for a long
time and got used to losses because I am still
"learning".  After a while I realize this is fine to
be learning, but I am not trading to learn. I am doing
it to make money.  Once I changed my mindset, losses
started to hurt a lot more and I am now much more
vigilant with all my positions.  You'd be surprised
the difference a change in mindset can do to your
trading account. 

Best Regards
- - Fanus

- --- Tomas <tomas986@yahoo.com> wrote:
> Gene,  I don't see this as a bad thing.  This is
> another tuition fee.  I look at it is way, I will
> make
> a lot of mistake.  It is better to make the mistakes
> sooner than later (because I use less money now than
> later).  I would like to get as much experience and
> lesson learn out of this as possible.
> 
> On your second sentence, you are saying that I
> should
> put hard stop or stop limit on all my trades?
> 
> tomas
> 
> --- Gene Ricci <genr@swbell.net> wrote:
> > Hi Tomas, sorry to hear of your bad luck. I have
> to
> > caution you to not trade with a hard stop of some
> > limit or another.... I see it's now down to a 39%
> > drop.... when does benign become terminal?
> > 
> > Gene
> > 
> >   ----- Original Message ----- 
> >   From: Tomas 
> >   To: canslim canslim 
> >   Sent: Thursday, July 17, 2003 1:28 PM
> >   Subject: [CANSLIM] BCGI big dip
> > 
> > 
> >   Hi All,
> > 
> >   I recently bought BCGI at BO on 07/08 for
> $18.89. 
> >   Good fundies and good CwH.  No real yellow flags
> > that
> >   I can see.  Yesterday on after hour trading, it
> > went
> >   down about 33% due to news on a potential lost
> of
> > a
> >   big customer (51% of revenue).  Also, earnings
> > release
> >   yesterday was very good.  So, my question is
> > should I
> >   know this coming?  Maybe I missed some big
> warning
> >   signs.  Maybe I should have noticed the active
> > insider
> >   selling the last few months.  Another other
> > warning
> >   signs that I would have noticed?  Or is this
> > something
> >   that you cannot protect from?  I am think there
> > should
> >   be enough warning signs for this king of thing.
> > 
> >   Is might be another dumb question, should I just
> > sell
> >   it now (you might be thinking "What! You have
> not
> > sold
> >   it yet"). Or wait for a few days to see what
> > happens
> >   and maybe I can get some of my loss back?  Am I
> > just
> >   been "hopeful when I should be fearful" (ie,
> sell
> > and
> >   get out ASAP)?
> > 
> > 
> >   Regards,
> >   tomas 
> > 
> >   __________________________________
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> 
> 
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