CD: I agree. This past week, and the week before, have been exceptional for me. My only regret is an ill-timed entrance on NETA which turned out to be a very bad move.
Luckily I stuck to my discipline, hard as it was, and cut the issue with a 5 point loss. Had I not, it would have become a 10 point loss. Luckily, again, it was a relatively small position (1000 shares).
Have yet to break my new discipline of buying more than 3000 share lots of any issue. ALthough this does reduce the upside gain, it also reduces the downside loss, which in my book is much more important. It is very important to live to trade another day. This can be done forever by selling too soon, but only once if you fail to sell the wrong issue much too late.
Going to go back through my trades for the past year and determine my win/loss percentage to see how it stacks up to my goal. I endeavor to become a 70/30 trader in which 70% of my picks go higher while only 30% decline. In all reality, I would be extremely happy if I could hold 60/40. Will report my results tonight.
Hope everyone did well this week. Market is a little overdue for a downside turn in my mind so be careful. The only issues I held were MDIN (nice day today), and ASTN ... which I tried to sell at 8 5/8 (but my broker went down just at that time).
Mostly cash here waiting for a good op.
Have a great weekend.
TJ |
