freeus ot ot ot
i meant to be serious as you are. to be successful you have to remove most emotions from your decisions. do the opposite...then you control the moment. when everyone is cheering how high an issue can go, then perhaps if you are in a profitable position enter stop losses to protect the downside. normally wouldn't recommend doing this, but it can give discipline. realize your past mistakes, if they repeat, then you must take a deep breath and walk away until you can get in synch with market. i took a defensive posture yesterday, sold some issues at a loss, but only because i knew i was going to buy what i considered more attractive. seems like i do this with hwp every october. last october when dell gapped down 22 points on open, i sold hwp at a loss, but bought dell at 20(split adjusted)...did the same again sold hwp at 77+ and bought athm......nothing wrong with fine tuning your account, but you must do it with direction...once you close the position, you can't go back or recover those losses. stay away from "momentum de jour" issues if you are emotional. you are up 15%, congrats, if i can do 15% year in year out, you double every 5 years...do this over thirty years, and your humble 15% makes you wealthy!!! good luck, just discipline yourself, and use cold logic instead of emotions...remember: 'if the majority of people in the market were always correct, then they all would be rich"....just the opposite as you are learning.... |
