Susan,
What a wonderful sense of humor! I am roflmao as I type this.
First off, let me say, I too lost alot of money, before making those rules religion. For what it is worth, I will share the mind set that allows me tho adhere to those rules.
First of all, I mentally, I no longer trade stocks. Yes, this is a trick of my mind...but it works. I only trade dollars. When a trade meets my criterion, I buy it. When it meets my sell criterion, I sell it. I don't think of buying NKE at 42, and sellin NKE at 45, I think of buying 42 based on trading perameters and selling 45 based on trading perameters. That little mind set allows me to look at each trade for nothing more than what it is...a means to increasing my capital. If my NKE trade retreats, and my trading perameters said to sell, it is easy...I'm not attached to NKE...I AM ATTACHED TO MY CAPITAL! Back when I invested in stocks...it was difficult to sell a losing position, because I was SURE that THE COMPANY was fundamentally strong, and would therefore rebound.
Good luck...and never lose that tremendous sense of humor!
Terry |
