posted
As in you made a bad trade or as in you missed your entry and didn't take a position in ANDS?
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
| IP: Logged |
posted
OK. Not gonna say good job (since you basically bought at the high today and sold at the low) but this is what you have to be able to accept will happen sometimes since you are not able to watch your trades throughout the day. You did follow the rules and limited your loss somewhat and in that you should be proud.
Be wary of any stock whose bullish trendline was broken recently. It is rare that a stock will truly be able to re-consolidate and grow reliably again within two weeks.
You have had three disappointments followed by a loss and have now reached a very important stage. One that can break you. If, in your next trades, you attempt to "make-up" your losses; you have redefined yourself. That type of trader is not a shark taking a bite out of its prey, that type of trader is a falling man trying to grab something that is already out of reach.
Losses are an unavoidable occurrence for anyone who intends to be a repeat trader. Anyone who trades based on what his account value USED to be is not trading in the present moment and more than likely setting themselves up for complete failure.
Over the next few weeks if you have trouble psyching yourself up into being a shark when you are looking at stocks then it would be best for you to take a break and reevaluate (and regain confidence in) your picking process. If you feel you must trade, for a few weeks (until your confidence returns) think of yourself as a cyclist climbing a steep hill that just looked up and realized you were not as far along as you thought you were.
As any cyclist knows, if you are staring at the crest of a hill that is pushing your limits your strength will fail you. However, if you stare instead at the concrete directly in front of you and concentrate only on the immediate, before long you will find yourself at the top of the hill.
As a trader, if you can't not find the shark within you but can't allow yourself a break, then you need to narrow your focus to the immediate moment and keep strict limits both low and high and be looking ONLY for that 3%.
Most folks when they are feeling down relax their limits thinking they have already lost X so they might as well play riskier and hope for a big score to bring them back to par. It is an understandable reaction but the exact wrong thing to do. When you find yourself going too fast and caught in a skid on a gravel road it is understandable to want to hit the brake, but it is the gas pedal that will take you out of the skid where the brake will only leave you upside down in the ditch.
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
| IP: Logged |
posted
Yeah he's pretty cool isn't he !!! I'm still waiting for those damn adoption papers to come from him though. Anyway about the response. I actualy think I have matured some on the emotion part. I liked the pic and felt comfortable with it which is why I bought it after hours yesterday, it all looked good and fit the parameters I was using. Today though just wasn't a good day to buy only because the wife was out of her office all day. She breezed in once and saw it was down 3% and didn't sell it.... we discussed that so she understands now that if I'm not around she has to take control. The good note is I haven't jumped in a stock just to be in one, I used to do that, felt Ihad to be in our what was the use...... so I'm done with that, which is a good thing. MU was the first one I have seen since missing out on the other three buys that I liked, the volume impressed me as well as chart wise it looked like it had a little more life in the turn around. So am I pissed I lost?? not at all, I'm more pissed she didn't sell at the negative 3 but mistakes happen. When I get in a next one I won't be trying for the whole loss back, simply the three and then a trailing stop to get whatever extra it wants to give. Your doing good teaching... quit yer day job.
Posts: 492 | From: new york | Registered: Jul 2005
| IP: Logged |
Good to hear you head is in the game. You sounded disappointed with yourself after you missed ANDS and I'd assumed you'd be low after having to cut and run on MU. Looking forward to seeing your next move.
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
| IP: Logged |
posted
My next move is to hopefully find a cheap flight and a room near yellowstone for a couple days to get some digital track pictures. elk,grizzly,etc. You gotta a plane Big you can pick me up in?
Posts: 492 | From: new york | Registered: Jul 2005
| IP: Logged |
posted
Out for a 3% loss, that's two in a row. So I'm down a total of 9% for the last two. It looked good just didn't do what it was supposed to. Done for the week unless the cash settles by friday a.m. but I doubt it will.
Posts: 492 | From: new york | Registered: Jul 2005
| IP: Logged |
quote:Originally posted by jgrecoconstr: got into comcast, down slightly
freekin crazy day JG. Bringin my fins back up on radar now. PMI for under 1.75, CNO for the dip and if ABK can dip closer to the $1 cool. Anyway, fins are geting hit again and there are still some gaps that may never fill.
Posts: 7799 | From: Virginia | Registered: May 2006
| IP: Logged |
MBI Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $6.50[-] $6.52 $6.50 -0.16 -2.4% $6.72 $6.66 3,772,176 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 962 603 NYSE New York NYSE New York $6.83 $6.47 $19.07 $2.17
ABK Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $1.26[-] $1.28 $1.27 -0.05 -3.79% $1.32 $1.32 4,270,749 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 1 1 NYSE New York NYSE New York $1.34 $1.27 $10.08 $0.35
FBR Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $0.39[+] $0.40 $0.39 -0.02 -4.88% $0.41 $0.41 3,556,567 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 1 1 NYSE New York NYSE New York $0.426 $0.38 $2.29 $0.06
UVE Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $4.58[-] $4.65 $4.59 0.04 0.88% $4.56 $4.55 148,095 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 1 1 PCX Pacific AMEX American $4.67 $4.49 $4.67 $2.31
SUAI Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $3.13[-] $4.18 $3.62 0.12 3.43% $3.50 $3.50 76,580 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 6 6 NASDAQ NASDAQ $3.69 $3.50 $6.14 $2.00
GAN Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $3.31[+] $3.46 $3.40 -0.07 -2.02% $3.25 $3.47 2,700 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 2 25 BATS Exchange, Inc. AMEX American $3.40 $3.10 $3.80 $0.82
FAC Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $2.08[-] $2.10 $2.08 -0.13 -5.88% $2.18 $2.21 21,685 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 20 40 NYSE New York NYSE New York $2.18 $2.06 $4.70 $1.66
AFFM Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $3.10[-] $3.88 $3.64 0.11 3.12% $3.58 $3.53 37,182 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 3 57 BATS Exchange, Inc. NASDAQ $3.65 $3.58 $8.11 $0.80
XL Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $9.79[-] $9.80 $9.79 -0.26 -2.59% $10.01 $10.05 7,643,496 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 65 51 NYSE New York NYSE New York $10.17 $9.75 $35.20 $2.56
ACAH Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $0.091[+] $0.15 $0.091 0 0% $0.00 $0.091 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 5000 5000 Pink Sheets Pink Sheets $0.00 $0.00 $0.65 $0.01
RBS Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $12.30[-] $12.36 $12.35 -0.61 -4.71% $12.95 $12.96 419,469 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 1 1 NYSE New York NYSE New York $13.00 $12.33 $21.00 $0.80
ramr Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $0.15[-] $0.35 $0.30 0 0% $0.285 $0.30 79,750 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 5000 5000 Pink Sheets Pink Sheets $0.30 $0.285 $3.22 $0.095
ago Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $12.90[-] $12.92 $12.90 -1.15 -8.19% $13.94 $14.05 1,427,455 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 1 1 NYSE New York NYSE New York $14.04 $12.83 $24.91 $2.69
PMI Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $1.84[-] $1.85 $1.85 -0.15 -7.5% $1.97 $2.00 1,780,312 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 1 1 NYSE New York NYSE New York $2.04 $1.68 $6.20 $0.26
rdn Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $2.79[-] $2.80 $2.79 -0.21 -7% $3.00 $3.00 785,359 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 1 1 NYSE New York NYSE New York $3.10 $2.79 $7.50 $0.70
TGIC Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $0.19[-] $0.82 $0.73 -0.02 -2.67% $0.79 $0.75 402,943 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 30 5 BATS Exchange, Inc. NASDAQ $0.79 $0.60 $4.49 $0.12
cnb Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $1.39[+] $1.40 $1.39 -0.09 -6.08% $1.43 $1.48 2,490,253 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 1 1 NYSE New York NYSE New York $1.44 $1.37 $13.35 $0.28
AHR Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $1.07[+] $1.09 $1.09 0.03 2.83% $1.09 $1.06 1,726,128 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 1 1 NYSE New York NYSE New York $1.22 $1.00 $9.59 $0.28
AIB wan't on the list but it is on my daily... Allied Irish Banks PLC AIB:NYSE Education help is ON Sector: Financial Industry: Money Center Banks 3.53 0.04 1.15% 1,574,182 Do the DD
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7799 | From: Virginia | Registered: May 2006
| IP: Logged |
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
| IP: Logged |
posted
Big, Still in, I don't have any cell service to get ahold of the wife and she just said she hadn't sold it. I haven't even checked it tonite yet to see where it's at. it's been a hectic week, I know...........no excuses!!!!!
Posts: 492 | From: new york | Registered: Jul 2005
| IP: Logged |
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
| IP: Logged |
posted
???? no excuses, means I know you told me never to hold over a weekend or even overnight. I can't communicate with her when I'm working up north. She knows 3% down is the limit to get out but she wasn't at -3 yet so she didn't sell. I probably should stay out of the market when I don't have cell service and I have so much else going on. Trouble is cell service is so spotty around here that I would never be able to get in a stock if that was the determining factor.
Posts: 492 | From: new york | Registered: Jul 2005
| IP: Logged |
At this point it will be interesting to see what CMCSA does on Monday. There was a little life coming back into the stock near EOD which is opposite of what I would expect from a Friday close.
For most of April 13.75 was a support level that had been bounced off of multiple times for a good gain. Not saying it is going to happen, the stock is in a pretty strong downtrend after that exuberant push to 17 but if it was just filling the gap, Monday could be a good day.
Since you've already broken the rules and held it over the weekend you might want to think about giving it a little time on Monday to try and justify the hold before cutting the loss. Only if it continues the late day appreciation track though. If it sidewinds or starts breaking new lows remove it from you before it hurts you further.
When you say up north are you just upstate New York or actually across the border? I would think New York to be towered tip to stern by now considering the population and all.
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
| IP: Logged |
posted
Monday will be a totally differnet week hopefully. I've kept her busy running errands pretty much the last three days. She took off work around 12:00 each day so she wasn't able to check the stock much. I'm working on 2 I-phone apps so I haven't slept much at all and the stocks haven't been in the fore front of my mind the past few weeks. As for cell service if you go about a half hour south of me it's fine for the most part but where I live it's spotty I can hardly get a signal in my yard. I've been working in a place called Raquette Lake with an off season population of about 100. I live in the Adirondack Park and cell towers are an extremely hot topic of debate. Anything that may effect the skyline or the ideals of the Adirondack Park Agency or the one of several radical tree hugger groups whether it's good for safety like cell service or good for the environment like wind mills gets shot down. Don't get me wrong I'm an environmentalist myself but just as in everything else in life a certain handful of people get to radical in their ideology and they always seem to have the funds and government on their side to get what they want.
Posts: 492 | From: new york | Registered: Jul 2005
| IP: Logged |
posted
Alright jg. It is Friday again and there were plenty of opportunities to get out of CMCSA above 14.50 which is my estimate of your original purchase. So...were you a trader and find your exit point or are you an investor and still holding?
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
| IP: Logged |
posted
I would term myself this week as a non trader. I ve been checking it almost each night just to much going on and it has stayed in somewhat of a stable range the past week. I do have a sell order in for the 3 but not a stop loss in place.
Posts: 492 | From: new york | Registered: Jul 2005
| IP: Logged |
My first trade - CTIC for 132% gain Current(still holding) SPNG up 180%
I actually started with $1000.00 I now have $6482.20
I've been watching many boards for $2.50 and under. More pennystocks for the better chances of big gains. I'm shooting for $50,000 by Sept first.
I wish you great luck with your system, I'll send my pick if you want to check them out, a little riskier but I just use STOPs GTD so if there is gains I adjust it.
Posts: 108 | From: Connecticut | Registered: Jun 2009
| IP: Logged |
posted
still holding on that one BF it pretty much trading sideways in my opinion. I bought in at 14.60 cent range. You were pretty damn close with your estimate.
Posts: 492 | From: new york | Registered: Jul 2005
| IP: Logged |
I have been watching over the past few weeks and I would like to give you my opinion of your trading style. (Please remember that this us just an outside opinion and I do not mean to be telling you how to trade. Do what feels right to you.) From where I am sitting I am not sure that the 3% method is the correct strategy for you.
Your day job takes you away from the market too often for you to be a quick mover even with the help of a partner which is necessary for the 3% method. Also, your personal preference in stocks is always multi-dollar despite your fairly small bankroll which says to me you feel a need for the safety of well-established stocks. This is not a bad thing but percentages move slower the larger the pps is which is not what a %3 shark is looking for until his bankroll is too big to move in small caps.
Given what I know of your personality and time commitments I am going to suggest that you ought to think about changing your strategy from 3% fast action trader to trend rider/probing investor.
Trend riding is similar to swing trading but an investor waits until the trend is easily identifiable within the chart before entering. Paying attention to your trendlines will also give you a clear indication of when it is time to sell as well. Trend riding works best in larger stocks with longer histories which I think would complement your natural attractions well.
Probing is a technique that many of the greatest traders use. Probing means entering a stock in stages.
Remember earlier we talked about how doubling down (cost averaging) is a losing man's scenario because the only way you can double down is if you have already let yourself lose a good portion of your investment capital? Well, this is the opposite of that.
Once you have identified a stock you feel meets your criteria you predetermine how large a position you want to take in the stock and then purchase 20% of that position.
If the stock breaks the trend you cut your losses and have only risked a small portion of your capital. If the stock sidewinds you can choose to wait it out if it is still riding the trendline or cut out for 'greener' pastures. If the stock confirms the trend and appreciates as expected you take your next dip in and purchase the next 30% of your position.
Follow the same routine and if after a few days the stock still confirms the trend then you make your final 50% purchase. The anti-intuitive portion to probing is that you WANT the stock to move higher before adding to your position. This strategy is not about getting the most stock for your money, it is about getting a safe stock for most of your money. Making the stock confirm itself twice as a steady climber before putting in your full investment is a great way to make sure you aren't going to get caught hard if you have to look away for an afternoon. It also supports the forward momentum of the stock and encourages other traders to take positions as well.
Just some food for thought.
P.S. CMCSA....it is indeed trading sideways. Now the next question you need to ask yourself. When it is done trading sideways what is the stocks next move, up or down? What is your next move? Are you in control?
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
| IP: Logged |
posted
Had a whole response typed up Big and it got lost somewhere. To dam tired now to type it again but I'll try tomorrow.
Posts: 492 | From: new york | Registered: Jul 2005
| IP: Logged |
I have been watching over the past few weeks and I would like to give you my opinion of your trading style. (Please remember that this us just an outside opinion and I do not mean to be telling you how to trade. Do what feels right to you.) From where I am sitting I am not sure that the 3% method is the correct strategy for you.
Your day job takes you away from the market too often for you to be a quick mover even with the help of a partner which is necessary for the 3% method. Also, your personal preference in stocks is always multi-dollar despite your fairly small bankroll which says to me you feel a need for the safety of well-established stocks. This is not a bad thing but percentages move slower the larger the pps is which is not what a %3 shark is looking for until his bankroll is too big to move in small caps.
Given what I know of your personality and time commitments I am going to suggest that you ought to think about changing your strategy from 3% fast action trader to trend rider/probing investor.
Trend riding is similar to swing trading but an investor waits until the trend is easily identifiable within the chart before entering. Paying attention to your trendlines will also give you a clear indication of when it is time to sell as well. Trend riding works best in larger stocks with longer histories which I think would complement your natural attractions well.
Probing is a technique that many of the greatest traders use. Probing means entering a stock in stages.
Remember earlier we talked about how doubling down (cost averaging) is a losing man's scenario because the only way you can double down is if you have already let yourself lose a good portion of your investment capital? Well, this is the opposite of that.
Once you have identified a stock you feel meets your criteria you predetermine how large a position you want to take in the stock and then purchase 20% of that position.
If the stock breaks the trend you cut your losses and have only risked a small portion of your capital. If the stock sidewinds you can choose to wait it out if it is still riding the trendline or cut out for 'greener' pastures. If the stock confirms the trend and appreciates as expected you take your next dip in and purchase the next 30% of your position.
Follow the same routine and if after a few days the stock still confirms the trend then you make your final 50% purchase. The anti-intuitive portion to probing is that you WANT the stock to move higher before adding to your position. This strategy is not about getting the most stock for your money, it is about getting a safe stock for most of your money. Making the stock confirm itself twice as a steady climber before putting in your full investment is a great way to make sure you aren't going to get caught hard if you have to look away for an afternoon. It also supports the forward momentum of the stock and encourages other traders to take positions as well.
Just some food for thought.
P.S. CMCSA....it is indeed trading sideways. Now the next question you need to ask yourself. When it is done trading sideways what is the stocks next move, up or down? What is your next move? Are you in control?
Smart guy!!!
Posts: 2363 | From: Detroit | Registered: Mar 2005
| IP: Logged |
posted
Ok Big a rewrite from last night. Comcast I fully believe will have a atleat a 3% pop shortly. I know I have been holding it for awhile but it's been staying in a range and it's not really volatile. it was coming off it's lows which it isn't far from still and has a ton of room to grow. The volume which was one of my parameters was attractive. I remember when I first started trying this I was skipping volume and getting into some stocks with 200k or 300k trading which isn't much and they took time to build. You are correct about my limited time to spend here and the cell coverage doesn't help either. Did I get in and get out? certainly not but I don't believe I've hit a point of no return yet on protecting my capital. I do remember if correctly in one post you telling me not to rush through the 200 trades, safe to say I'm not rushing. Had this one tanked big time I certainly would have dropped it by now but there seems to be some positive news on it. As far as news goes though I don't put to much importance on that asd I have seen many stocks with good news drop. That supports that old adage buy on the rumor sell on the news, which really to me is so true. With my commitment as of late I don't know if I will ever be the shark since you really have to be jumping in as the market moves similar to Rman or Morpheus.... I can only scan at after the market closes so I'm always going to be buying on the turnaround, the point where the largest of gains typically occurs in my opinion. But on the other hand from all I have read in the past few years that's the confirmation you should be looking to buy into. I honestly don't feel I'm not doing to bad on my picks. Some I didn't get into were up, some took awhile and some dived but if I were to calculate from the start of this thread I would guess I'm around 60% for up stocks. Of coarse that don't mean **** if one pick wipes you out (lived and learned on that won't happen again unless there's a suprise BK somewhere) I highly doubt I'll ever be a true day trader where I can see instant trades unless my life changes dramatically. I don't see that happening although there is some good stuff on the horizon if I can ever get it all done. More than likely I'll stick with where I have been in a comfort zone not neccessarily large cap stocks as you mentioned but whatever fits the parameters except pennies, true pennies I won't get into those. After all C, GM,F I think GE even went under 5 at one time and although they fit the description on a penny under 5 I wouldn't consider them a true penny stock. Without sounding to corny I love to read your replies your obviously on top of your chit and I appreciate all the advice your giving me and don't think I'm passing it over since you know from the two trades prior to this I have learned to take the loss and move on. The shark bite needs some dental work but but i'll try and keep up with that on the trailing stops.
Posts: 492 | From: new york | Registered: Jul 2005
| IP: Logged |
posted
Good. Remember this is not about winning or losing. There is no one correct way to trade. Your profit comes not by winning a lot but by making a string of good decisions. Sometimes your best decisions will be to walk with a profit and sometimes they will be to walk for a loss.
I am glad you are not immediately changing styles just because I suggested it. You must trade true to yourself. If you were to just follow what I said without introspection you would surely lose everything. Like I have said before the stock market is about mental fortitude more than anything else.
When I was speaking about not rushing into stocks I was meaning keeping your cash safe in your account where no one but you can get at it until you find the right opportunity. I am willing to accept that you are still in CMCSA because you believe it has a run in its future, but never make the mistake of believing any stock (even a runner) is as safe as your account. BK is just one of the ways you can suddenly be left with little or nothing.
Your 60% positive assessment reminded me of a quote from one of the greatest traders of all time
quote: If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong. -Bernard Baruch
and since I've gone the quote route and am using other peoples words lets hit the points home...
quote: Rule #1: Never lose money. Rule #2: Never forget Rule number 1. -Warren Buffett
quote:Profits can be made safely only when the opportunity is available and not just because they happen to be desired or needed. ...Willingness and ability to hold funds uninvested while awaiting real opportunities is a key to success in the battle for investment survival. -Gerald Loeb
quote:The speculator’s deadly enemies are: Ignorance, greed, fear and hope. All the statue books in the world and all the rule books on all the Exchanges of the earth cannot eliminate these from the human animal. -Jesse Livermore
One final thought I'd like to leave hanging in the air. Bernard Baruch has told it true that being right only three or four times out of ten can create wealth if losses are mitigated. So why then do regulators have statistics that say a full 70% of day traders will lose nearly everything they invest???
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
| IP: Logged |
posted
Some good quotes there BF. Listen...since your taking the time to mentor me can you do this one favor............... show me how step by step to cut and paste a quote from a thread. Someone gave me the instructions once but I must be dumber than a rock cause I can't figure it out. Cm did have a good run yesterday and fell back today. When it didn't close near the high I was iffy on todays open. The slightly higher volume must have been profit selling. I would say causing todays downturn. It should turn back up next week if not then I'll be out since I'm leaving town. Serious though about the pasteing... if you got the time. Have a great weekend.
Posts: 492 | From: new york | Registered: Jul 2005
| IP: Logged |
if it is a full post from earlier in the thread you can also hit the quotations symbol "" on the top of the post you want and it will automatically quote the whole post for you.
quote:Originally posted by jgrecoconstr: Some good quotes there BF. Listen...since your taking the time to mentor me can you do this one favor............... show me how step by step to cut and paste a quote from a thread. Someone gave me the instructions once but I must be dumber than a rock cause I can't figure it out. Cm did have a good run yesterday and fell back today. When it didn't close near the high I was iffy on todays open. The slightly higher volume must have been profit selling. I would say causing todays downturn. It should turn back up next week if not then I'll be out since I'm leaving town. Serious though about the pasteing... if you got the time. Have a great weekend.
Or you can go to the full reply form and hit the button 'quote' and it will
quote: put the quotation marks on the screen for you so all you have to do is put the text inside.
PS: I won't be around for about a week. Good luck to you.
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
| IP: Logged |