#SanDisk $SNDK
In "Reminiscences of a Stock Operator," the king of speculation Jesse Livermore said:
Close losing positions, keep the right positions
Why? Because trading is about trial and error
Also, the Turtle Trading Rules:
Enter directly on a breakout above the 20-day high, cut losses if it drops 2 ATR, add to positions if there is unrealized profit. Why? Because the essence of trading is trial and error
But our speculation masters never taught us to hold losing positions. In July's decline, I saw too many people holding long positions, blowing up and losing everything. In August, as SanDisk rose, short holders started holding losing positions again, very good, very good
Human nature never changes, only the market cycles.
In "Reminiscences of a Stock Operator," the king of speculation Jesse Livermore said:
Close losing positions, keep the right positions
Why? Because trading is about trial and error
Also, the Turtle Trading Rules:
Enter directly on a breakout above the 20-day high, cut losses if it drops 2 ATR, add to positions if there is unrealized profit. Why? Because the essence of trading is trial and error
But our speculation masters never taught us to hold losing positions. In July's decline, I saw too many people holding long positions, blowing up and losing everything. In August, as SanDisk rose, short holders started holding losing positions again, very good, very good
Human nature never changes, only the market cycles.