It is true for me, too. I used to be winner before I started to just follow the hints in this thread.
What are the reasons for my losses here?
I was trading only intermediate and long. I did my DD and had an careful, maybe slow but successful selection process. Here I saw, what is possible with quick trades. I thought, I can try to play a little bit. Make some extra money to buy more RNTK for the big run. What happened was the opposite. I sold my RNTK, bought other things without own DD, because everything was so fast and ... lost.
Was it Joe's fault?
My answer is NO. Joe always warned the newbies to stay away from "quickies". He prayed first watch, read, do paper trade, don't be greedy, etc. We, the newbies, didn't follow his advice.
To really do short time or day trading it requires a lot of time to be able to do all the necessary DD. I'm not able to spend this time every day. That means, in future I will stay away from quickies.
By the way, I still think there is chance for ACNTF, but patience is necessary. The bad thing is, that like most of us I bought at an average in the .70s
Gogo |
