Speaking of houses, sometimes when I'm in a pissy mood, I say, "Greenspan stole my house in Santa Fe." Or maybe several of my houses in Santa Fe, LOL. That's how I view my paper losses last year. A house and a really nice car in Santa Fe. They disappeared! Probably they are in some alternate universe with freeus' palatial home...but mebbe its better she doesn't have that $ as she'd give it to the gun-toting libertarian! :-)
Had I simply used the method of trailing stops I've learned from Teresa & her crew...just set your stops higher as you trend up, to protect yourself....I'd have gotten stopped out when the trend changed. (Allowing some space for volatility).
I have to say, lurking in Teresa's room, where even though they trade by minutes, there is a great prevailing calm, a kind of focussed intelligence, is really interesting. Particularly because all trading vehicles tend to retest tops and bottoms, or break out of consolidation, etc--- For instance, today she mentioned how one might swing-trade options, using ITM/ getting stopped out ATM (i.e. if you re wrong). Your talk about basing/consolidating is not all that different than hers about retracing/testing a bottom. They're different words for the same insights.
I'm not doing any trading right now. The market always moves, so there is always $ to be made--I'm more in a learning mode. |
