Rande...
As usual, thank you (and everyone else for that matter) for all of the information provided on this thread. Great work!
As one of the many lurkers on the board, I don't post very often, but I occasionally emerge with a stock recommendation or a question. Today, I have the latter.
In a number of your posts over the last few months you have chanted the mantra "profit often". While I translate this to "don't get too greedy - profit when you can for tomorrow may prove worse", I was wondering if you could confirm whether this is the correct interpretation.
As a relative neophyte to active trading, I am just starting to find a groove in picking the appropriate stocks at the appropriate time. This has been a difficult lesson to learn, but through monitoring the discussion on this thread, I have learned to better identify the opportunities to buy a quality stock.
This has provided me with a new and somewhat precarious situation, however. For the first time, I am making money and I am finding it very difficult to:
a) separate myself from a stock that is doing well;
b) identify a opportunity/time to get out.
I know that essentially, we all want our stocks to increase 100, 200, or 300% but I also recognize that this mentality may preclude us from 'profiting often'. Some insight ir advice would be appreciated.
On a side note, I would also offer some basic advice to a any person who is new to this thread. Listen, read and watch. To expect that you will immediately profit from the advice that is dispensed on this thread is erroneous. I have spent the last six months learning about the personalities and players on this thread - they are varied and complex. As well, I have kept track of some of their recommendations, often made weeks prior to identify an opportunity. Watching these guys in action is like learning to read again, and sooner or later you begin to understand their logic. The conversation will start to tie together. Patience is required, but it will pay off in the end. Don't just read... try to understand.
Sorry for the tangent, but I know I could have used that kind of advice when I started on this thread.
MW |
