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Re: need friends today.....
yabadabadoo
07-05-2008, 3:41 PM | Post #2535805
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nancy, I wouldn't be any more pained by a real loss than I was from a paper loss. This notion that one doesnt have a loss until they sell and lock it in is nonsense IMO. The question is whether you feel you are going to get the loss back faster by staying in that position waiting for a reversal or liquidating it and putting it into something else. Losses are just a part of doing business --for anyone to ever think ---not suggesting your are--that we are entitled to the gains but exempt from losses is not realistic----taking the risk and possibility of losses is what puts us in position to make those gains. You have to look at your portfolio results collectively and not individually----if collectively your OK then then thats all that matters. If taking losses was totally unceptable then poker players would never fold once they had money in the pot. Used to just shake my head and laugh at a friend I had who was a event ticket broker----he made significant 6 figures a year workin out of his house buying and selling tickets and would moan and cry whenever he had to eat any bought tickets he couldnt sell----its just a cost of doing business and it'sthe net collective results are all that matter. Let the others hang on to a continuing losing postion under the illusion they havent lost till they sell---------sell it and put the proceeds in whatever else you may feel will get it back faster, thats what I'd do----it hurts no more making the loss official than seeing it on paper only and pschologically you better off not having the loser torment you daily----find some gains to take to offset the loser with for taxes----JMO
Topics
broker
portfolio
pot
puts
risk
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