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Strategies & Market Trends : The Market Taught Me That......
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To: Cynic 2005 who wrote ()11/4/1997 12:35:00 PM
From: Cynic 2005  Read Replies (1) of 151
 
To all, First of all, thanks to all who have good words to say about me. As I promised earlier I couldn't get back to posting my note here soon enough. Server problems!
The biggest lesson I learned is to stick to an investment discipline that suits your emotions and risk tolerance. While your emotions make you lose or win, discipline helps you keep most of what you win and helps you cut your losses early. Having a disciplie to deviate from your own discipline is also very important.
Others:
1. If you bought something for speculative reasons - don't get greedy, set your price target and get out.
2. If you are short-something and have the good fortune of having it your way, take a majority of the money off the table. Stocks fall for a reason but the herd and bargain hunting instincts are so powerful, you only have a small window as a short.
3. Unless you have a firm discipline, don't venture in to short-term options. Playing with short-term options is mostly a losers game.
4. When you take a trading position, your attitude should be "I know better than the herd and when the herd knows what I know, I will be out - at least partially."
5. Let the winners run but only if they are good companies.
6. NEVER LOSE FAITH. Yes, I am speaking from my experience!
More laters.
-Mohan
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