Tom,
Lost more money in commissions, in and out, in and out, from 2003 to 2005, by fear of losing profits, first, and fear of losing money in the red, second. I was in ng, gam, eld, gg, glg, vye, yri, in and out in and out, when they were 400% less expensive, and before i knew anything in the pm business. And finally i missed most of all the big break-out to new highs... Fared better in 2006, but still, i sold too early three times, had to rebuy a fourth time... Needless stress on my nerves... Instead of 400%.... my overall pf is up 30%... Not bad, but not good enough considering how i made my choices.... and how (when) i executed my sell/buy orders.
It's much more than choosing a good value stock... It's about leaning to live with it.... Miss right or miss right now... (or Mister for the ladies)
It's about learning how to sail the ups and downs without beeing trigger happy, fear ridden. Not always easy!
It's all about balance, diversity, experience. Timing and opportunity.... Ya right! Repeat that for me once again.... That's what my dietician, psychologist, doctor, lawyer, AA coach, bartender, pusher and a host of other professionals keep teeling me.
Trying to hold core positions in value stock now, and trading the other half... Learning in progress! When will i f... learn that one.
I guess we all go through phases, where we are overweight in one stock (nw, cge, tk for me), one sector (juniors), or one sub sector (junior explorers without ressource and fantasizing).
We lose, we ache, we learn. It's like in the lion king: the cycle of life! Hakouna Matata!
And the paradoxe is that while most of suffered with nw, tk and cge, others were able to profit enormously on our losses...
That's life! Hakouna Matata!
I've been successful at holding on to ano, bcm, pnl, Dmm, ckg, aau, spm and pmi for more than 3 months.
Ano and BCM were driving me crazy last week as they are very profitable for me right now and was wondering whether or not i should take some profit. I'm very indecisive. But i will try to hold until january 2007....
New mantra: Hold value more than 6 months, hold value more than six months, hold value more than six months...
Riding a bull isn't as easy as what most people seem to expect.
Thank god, there are a few good and decent people on these threads. And they know who they are.
And tuesday is still pretty far ahead... What will this fall give us....
Not for the faint of heart... Hacouna Matata!
Cheers to all, and thanks to all for this interesting debate over the week-end.
Patrice the Jester |
