now bearish? I cant keep up with you guys.. one day bearish, next bullish :) :)
Just take the position I have.. 'no clue' :)
set my stops, and just watch... If I were to follow the fundamentals, id be the most bearish person out there.. but the markets keep disagreeing with me!
Shark- I was surprised to see you mention that stops simply dont work.. FOr the last 2 years I have never entered a trade without putting a stop in 2 seconds after the purchase. I survived the semis over the last few months being short, including the day Greenspan and Co. did the surprise cut that sent everything flying.. My loses are all controlled, and as I enter each trade I make a decision of just how much Im willing to throw away on a position gone bad..
I dont believe in TA at all, but never skip a post by velo, or countless other TA folks I follow.. but after years of trying to apply some science to this mess, I think what TA offers is a strict discipline that is so difficult to stick with when investing.. So many traders fail because of that lack of discipline.. My personal problem is emotion.. The last week earned me a gold star because in the past when alot of sub $5 stocks would have ridiculous moves- I would find myself jumping in with both feet praying for that miracle run from $2 to 10, and retiring.. it took 8 years of doing that before I realized I had a problem :)
I owe ADSP the world for kicking me hard enough to cut that crap out.. Now my returns are much smaller, but over the last 12-24 months it adds up.. If it takes 20 years to be financially 'set', so be it.. Im having fun :)
Im a very unlucky person by nature so once I break my rules, im screwed.. Christ- I remember years ago I put all my money long on jb-oxford- JBOH? at like 2 bucks.. It shot up to 10, and ameritrade went down.. took 15 minutes to get a broker on the phone and by that time the stock retreated bac to around 4.. I was rich for 15 minutes on paper.. and of course, that sparked another emotion which in the end made me lose 1/4 of my account.. THis process was repeated for several years up to ADSP..
man.. I have so many 'cry in my beer' stories.. Sure as hell wouldnt be sharing them all with you folks if it didnt turn out for the better :) |
