Good trade Don...you are entirely right that it was lucky, almost foolish luck. Good money...its not good money...its might be a lot of money, but you used LUCK to get out of a position that you increased to a point that it could have dessminated your original account of 50k to zero and left you with a 100k debit.
To have already leveraged an account 150%, then to come in with more cash to double down on the same stock, totally concentrated is like rolling the dice. The worst thing that comes of something like this is that individuals think they can do it again, just like when you get blackjack at the casino. In the end, if you approach investing like this, like gambling, like at the casino, they end up taking your money by night's end, one way or the other.
As well, I am in no way suggesting that anyone pay for Ken's site. I am not taking a position one way or the other on the merits of his or anyone else's site. I used it as an example of sites that DO charge after you somehow wanted to argue with me for our offering our site for free?
Anyway, congrats on that trade going your way. I have said it before....I owuld always rather be lucky than skilled!
Regards,
steve@yamner.com |
