Jeff Macke advised that you should know your style and your motives before you enter into a position. Know why you’re getting in or you won't know when to get out.
Guy Adami said the best investors use all the different styles in an aggregate and never one in a vacuum. Don’t just look at valuation or technicals or momentum – take all the pieces together to make a trade.
Karen Finerman reiterated that cost basis should never be a guiding principle in an investment. It doesn’t matter when you get in, just where you get out.
Pete Najarian recommended that investors spend some time learning about the options market before diving in. Options are a phenomenol trading tool but only if you know how to use them.
> The Traders’ Styles
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Trader disclosure: On Feb.12, 2008, the day of taping, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (YHOO), (DIS); Najarian Owns (BIIB), (C), (CSCO), (MCD), (MS), (MSFT), (YHOO), (XLF); Najarian Owns (AAPL) Calls; Najarian Owns (FRE) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (GE), (MSFT), (WMT), (YHOO); Finerman's Firm And Finerman Own (HD); Finerman's Firm Is Short (SPY), (IJR), (IYR), (MDY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Seymour Is Short (VIP) Puts