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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Bob Brinker, Jr. who wrote (10214)12/4/1999 2:03:00 PM
From: Mike McFarland  Read Replies (3) of 15132
 
Was doing some queries on "Skillful Trading"
and worked my way around to your post. First
of all, Congratulations! Second, can you give
us a rough breakdown of what sectors of the
market you played?

I nearly quit trading a month or two ago, but
stuck with it and have recovered to an acceptable
gain this year. Last year I was up something on
the order of 300%, but afraid to say I've not
made triple digits this year--not greedy, but
looking back at all the stocks I followed, but
then missed out on, I clearly see something wrong
with my psychology or trading style.

Maybe you or the folks on this thread can shed
some light on this...let me elaborate. Choosing
the stocks to be in this year has been an
exercise in juggling 5-10 small and microcap
biotech stocks. With time I would eventually
lose patience and/or simply change my mind on
whether I wanted to hold a position. Three
of the stocks I gave up were NBIX, CRGN, and
GLGC--three stocks which have done extremely well.

Where I think I keep shooting myself in the foot
is a persistent urge to be a contrarian, and
if I happen to be out of a position and it starts
to move, I think that I'm not able to readjust
my thinking fast enough. This post is long enough
for now, but let me know what you think and I
will elaborate if a conversation gets going.

Oh, I should point out that I've made about
forty grand for my wife and I this year in
IRA brokerage accounts...but I've also made
about three grand for Etrade. I think the cost
is too high--quite sure that I am overtrading
by 3x. Thoughts?
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