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Strategies & Market Trends : Your Worst Trading Enemy.. You

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To: Canuck Dave who wrote (11)1/15/2001 5:05:39 PM
From: Northspoon  Read Replies (2) of 223
 
I got careless last January and February after coming off a few months of wins - had the idea that I was a great short seller and took large losses in an up-market ( all the analysts were saying overdone tech sector - remember?) by the time the market was turning down I didn't believe in myself anymore and then tried buying the bottoms - wrong again and more losses through the summer. I feel that the the best thing that happened to me was when I began to buy stocks that were essentially strong and that had a history of real life earnings e.g. Husky, Nortel and then to try and trade them for short term gains knowing that even if I guessed wrong on the exit point that there was enough to the company that the fall would be short and that there would be a safety net because of the real life earnings to the company. I am also using positive re-inforcement on my trades because I began to believe that it wasn't right to make money without producing any labor or service and essentially I began to sabotage myself. This is all possibly only related to myself and is just a recount on my experiences. Happy New Year to all and good trading to everyone. Note: I too am Canadian although I will be actively looking to change that soon, too old for the tax grabbing govt. up here and looks as though they will be in charge for another 5 or 6 years and can't waste the years.
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