notes to self
Posted by Book Eater
1.) dont average down, especially when you're significantly exposed to the stock. However, good fundamentally you think the stock is.
2.) if you hope, you're a dope- If you fished for a bottom and failed, run quickly and get away with a small loss.
3.) trades can be divided into two broad groups- value trades and greaterfool theory trades
4.) there is a time to go long, a time to go short, and a time to go fishing - jesse livermore
5.) in some way, all positions are related. you can have an avalanche come down on your head.
6.) you must observe everyday, but not trade everyday.
7.) Be logical, don't make wild choices.
8.) Start paying attention to weekly charts, not just daily ones.
9.) keep a diary and review it periodically. write down thoughts, emotions, and incidents at the time of each trade.
10.) try not to make too many trading decisions during the trading day, have your strategies thought out mostly during non-trading hours.
11.) read reminiscences of a stock operator- jesse livermore
12.) listen to the chart. if you're not sure, just step back.
13.) let the chart speak to you, and listen to the chart. also view the longer term picture.
14.)don't ignore your instincts. if you've been successful in trading, your instincts have played a role.
check own trades.
1.) i still have my fph @ 52 and some at 54.50 - still holding because the support of 50-51 still
holds
2.) i bought APC last time @ .50, just a small position... was wondering to hold it until .43 (the support in the weekly.)
3.) i bought sino, a wild choice because i saw significant volume last two trading days. today wala..so im alanganin na..my cost was @ .33 and .34, it's now doing .32
4.) i still have my GEO @1.22 cost though..i plan to lighten as markets are getting cautious and more on the downtrend side. also, volume for geo these days are really not worth it.
there.
sold all my positions of cmt @.99 and eei@3.35 coz im unsure na at how this will go about.
- Nix