Trading Lessons
This was not a good week for me.
There are many mistakes that one can make.
Let me share what I have done. If I do not learn, maybe
someone else will.
Lack of Focus
If I had focused on certain plays, I would have done much better. Friday, I entered RNWK, sold much too soon, and lost much of what was a 3+ point gain. I was too busy watching a lot of other stuff.
I can go on and on and on about focus. I am lacking it, and it is costing me dearly. I post my own lists, and then seem to forget about them untli I look later and see that there were good performers.
Overtrading
I guess a lot of us do this. All these stupid trades with these damn
internet stocks. I posted much of what I did with LCOS, and it was a manual in what NOT to do.
Patience
How many times am I going to buy too high, or sell too low. Waiting with a PLAN would be the better approach.
I am writing this because I am very pissed off at myself, I really think that I can do a good job of trading, I really think I am learning (but too much the hard way), I really think I have good trading instincts, but don't seem to have the confidence to follow my instincts. I feel particularly good that I have only lost on one short position (I'm down on another), and it would have been a big winner for me had I held it. In this market, one has to be able to trade on both sides.
I'm sorry to take up bandwidth with this, but allow me this therapeutic interlude.
I enjoy making my contribution to this forum, and look forward to continuing. Yes, this is a position thread. I will be respectful of that. I will also try to do a better job of planning more, watching less intraday, and executing successfully.
Peace to all,
David
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