OK I have stayed within my rules and I am doing well. Lately I have been getting really good at taking small losses. What broke the cycle is that I vowed to follow Stewie's alerts religiously for all of my trades, and Stewie has no qualms about jettisoning a stock the second he thinks it is going to lose him money. It could (and often is) well above the stop level - he does not wait until it hits the stop. The stock could start to bear flag, have poor price action, be too choppy, or WHATEVER - he doesn't care. In this sense Stewie reminds me of Larry Ellison of Oracle. Larry knows how to make money, and he buys companies, and makes decisions - all based on the BOTTOM LINE and the goal of MAKING MONEY - as soon as someone or something is not cutting it for that purpose, they get shown the DOOR.
We shouldn't get attached to our stocks - in fact that concept that Peter Lynch had about buying companies we know and admire can actually prevent us from parting with our winners. If you hold a winner long enough, it will become a loser. But today my old habits didn't prevail. I personally very attached to AAPL the company, but with some help from a friend holding my hand, I jettisoned 30 AAPL@209 before the closing bell. I had bought these shares at 189 and held them through the downturn last year, so I had enough profit and was relieved to get rid of them. It was fun to sell into strength, and be profitable. This frees up about 6.5k that I can now use in this same account to focus more on Stewie alerts, yeah!
You Picked the Plan Because Your Doctor Was in the Directory. Federal
Auditors Found More Than Half the Listed Mental-Health Providers Weren’t
Seeing Patients.
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Federal auditors spent months calling the therapists listed inside Medicare
Advantage directories, and what they found on the other end of the line
raises ...
3 days ago
2 comments:
Hey,
Congrats on achieving your goal of learning discipline.
May 2010 be your year!
MM
Congrats on the progress! The more I try to do this, the more I recognize that it is the 'small' mental challenges that become the biggest obstacles to my success as a trader. Again - well done and keep updating me/us on your progress - it serves as an encouragement in my own struggles.
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