I'm not posting to this blog much these days, and that's a pretty good thing.
In late August I drew a line in the sand and started over sticking to my rules. Since then I've gone 0-1-1, and I currently hold two positions. That's not tremendous results on the surface, but looking at it relatively shows some improvement.
Simply comparing my results over the last two months to the rest of the year shows progress. I've held one stock, (EJ) since 8/24, which embarrassingly is probably some kind of a record for me - my positions usually don't last that long! The stock is up close to 20% for me at this time, and is breaking out of a second stage cup with handle pattern today which allows me the opportunity to hold it for 20% more gain.
My other stock, (HMIN), is also beginning to work a bit.
What's really encouraging is that I've held these stocks through an extremely turbulent market. I've done so not through some great insight or market wisdom, but just from following my own rules. So far, these have worked. Buying close to the right time and giving these stocks the full 8% stop loss has kept me in the market through some violent shakeouts. Now, of course this could all turn tomorrow but for now it appears to be working.
Most importantly, I've had next to no stress about the market. I enjoying talking about it on the forums associated with this blog, but I don't have any emotional baggage directing my actions with regard to my positions. I buy them and I leave them alone. Sure, I have some fear that I'll fail again - but not nearly like I have in the past, and I'm quite certain I don't act on this feeling.
So I guess all this can be summed up as 'no news is good news.'
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El Capital / Capital Basica de bolsillo / Pocket Baisc Spanish Edition Karl
Marx 9788446012221 Books leer SXB
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El Capital / Capital Basica de bolsillo / Pocket Baisc Spanish Edition Karl
Marx 9788446012221 Books libro electronico
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5 years ago
2 comments:
nice post
"Trading, speculating, investing or whatever you wish to call it is a business. It really is a business. It's not gambling, guessing or hoping that this is the moment or time things will work out.
If you can't sit down and write out a detailed plan of what you want to do; how you are going to do it; what do you require to do it; when you are going to do it; and why are you doing it, there is a high probability that you will fail.
Successful traders come to realize that the most important element in their success is exercising control over their emotions. If they stick to their plan and follow the rules they know that over any period of time that the probabilities for success are on their side. Key to this is they have a plan that works."
Mr. C - SI Board - 2006
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