Hi Vadym,
You know your grammar and syntax are tortured but the clarity of thought is so pure it's a joy to read your posts. This is pretty off-topic but if you ever pitch a book deal see if you can find a publisher that will not edit you for usage, but rather allow you to write "immigrant English." I also want to ask you if you know how I can obtain a copy of the movie Stalker, if that's possible (translation not necessary).
Your discussion in this post of Chris's resonates with me because yesterday I made a trade in which I broke my main rule of not selling a loser quickly because I talked myself into thinking that the stock was actually undervalued and was "cheap"!
Now, I do believe that in a year or two or three, investors in the stock I was trading will look back on yesterday and say, wow, was the stock cheap then. But I am not an investor. I can't afford to tie up capital in a stock that may decline another 20 or 50 (like you say who knows) percent, or might languish for months on end. So thinking, even briefly, like an investor was a poor thing to do and one that reflected the intrusion of Ego. Alas.
"Good judgment comes from experience; and experience, well, that comes from bad judgment." Anonymous (unattributed)
I do want to question you on your expectation of some sort of calamitous capitulation (say a day where the Naz falls 400-500 points or so, plunging below 1500). I am not convinced that this sort of thing is going to be such a bonanza for tape-readers, unless we decide to become, temporarily, swing traders. Personally, I suspect that while I will make some handsome profits in such a scenerio, I will also leave a lot on the table, unless I miraculously acquire the ability to hold stock overnight. This is just part of the defensive nature of my trading method, and a part that I am at peace with. I'm interested to know exactly what you're hoping to do should you see a huge capitulation such as the one I described. |
