Cautious Optimism in the Stock Market  

Posted by Book Eater

There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time.

No man can always have adequate reasons for buying or selling stocks daily – or sufficient knowledge to his play an intelligent play.

- Jesse Livermore


I'd like to apologize for not being able to update this blog.

Recently, I've been "busy" reading Jesse's Reminiscences and I figured one mistake of mine.

That is..not really reviewing/studying my mistakes.

Pasensya guys. For now, I didnt prepare what to write here. There are lots of things in my mind that I can share (trading wise). I just dont know how to begin to put them all in words. Once I finish reflecting on my trades, I'll post. (Soon).

Marketwise---i just inserted Jesse's quote. Don't rush to buy into this bear market.

Jesse calls it the most expensive "eighth's" of the world. When we try to guess which is the bottom or the top (for the shorters) in different markets.

Wait for the big move. Allow the stocks to touch their second support levels (AC and GLO comes into mind).

Rangetrade your GEO shares.

Most of all, never listen to any tips. Trade on your own convictions.

Here are some great thoughts on my own mistakes, (when i read it, mejo tinamaan ako.)

"My position was right, but my play was wrong."-jesse livermore

---imagine if you wanted to cut loss on a stock or you wanted to enter a stock. You either did it too soon or too late. You were in the right position..but your play was wrong. I can also recall overleveraging one time.

It just simply teaches us that... while we may know what we're supposed to do (whether its accumulating shares or holding or cutting losses), it's how we execute these things that count. How much shares did we buy? Did we really manage risk control? Did we fear too much and cut our profits short?

i promise to write more...

im a bear this week.

lots of bad data. ingat guys.

That doesnt mean i wont buy any...

i may. dipende sa price action.


- Nix

0 takes

Post a Comment