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URL:  https://boards.fool.com/whenever-you-enter-a-position-long-or-short-17350472.aspx

Subject:  Re: Slightly OT: Date:  6/12/2002  6:44 AM
Author:  OhYeah Number:  41838 of 50600

Whenever you enter a position, long or short, longterm or shortterm, ALWAYS have a Maximum Acceptable Loss determined. If that maximum acceptable loss unfortunately occurs, DUMP the position. That way, the acceptable loss is guaranteed to not become an UNacceptable loss.

Never say "It's gotta go back, it's gotta!" because it ain't gotta.

Set those Stop Loss stops - observe them WITHOUT fail and without emotion - mechanically leave a losing position and have your bucks available for another day.

[from one who, for some unknown reason, allowed WAY too many dot-bomb "investments" to depreciate not only back to the buy-in point, but 90+% below the buy-in point before he said "What ARE you doing!?"...]

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