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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: ChanceIs who wrote (61508)3/11/2006 4:29:37 PM
From: chowder   of 206181
 
>>> People tell me I need to diversify. Why do that when I know this sector so well??? <<<

Diversity comes in many shapes and forms. Most people assume diversity means trading across the market.

Diversity can also mean time frames. Some short term trades, some long term trades and certainly taking profits on partial positions as you go along.

Since the market doesn't go straight up or down, it's important to take advantage of the market swings by diversifying the time frames on trades.

In my own case, I do some intraday trading, a lot of swing trading and quite a bit of longer term trading.

It's not so much the different sectors that one trades in to be considered diversified, it's more of diversifying the time frames for holding positions and taking profits or minimizing losses.

dabum
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