Markets Up!! June 2, 2009
Posted by wallstreetbuddha in Psychology.add a comment
Wow,
Today was an unbelievable day. Really glad I had at least a little long position out there to participate. Truly an enlightening experience. My charts were forcing me to buy. At the same time my gut was totally rejecting it. After trading for some time now. I realize that one does not battle the markets, one battles himself.
Stay Positive. May 21, 2009
Posted by wallstreetbuddha in Psychology.add a comment
I have to keep reminding myself not to get so emotionally involved in a particular position. Best thing to do is stick to your guns. Selling is a strategy and cash is a position. I remember getting stopped out of GOOG 3 times before I caught a good run. I think I hit 1 good trade out of the 4. 3 small losses and 1 big profit. Works for me. The fundies on ICE are good. Just trade the next high price on the next market rally. I’ll let you guys know when when I take my next position.
Good Luck.
Reality Check….. May 20, 2009
Posted by wallstreetbuddha in Psychology.add a comment
I’m on a losing streak. Most of my trades are loses. I’m still up, thanks to short positions in AIG and BAC during the crash. In the following months to come, I initiated other short positions in the market which all went against me. Many, many loses. I closed 2008 UP 20%. Yes that’s good, but the soul grows tiresome when more than 50% of my trades fail. I almost didn’t take the AIG short positions because I was exhausted. I’m glad I took the signal. I vowed to take my charts seriously and execute accordingly. If I get a signal with a favorable risk/reward …..roll the dice.
I’m looking at my charts again, SNDA looks like the NFLX breakout—-that failed. Maddness. Glad my stops are in, I don’t know how people manage to honor their “mental” stops.
Technical Analysis April 28, 2009
Posted by wallstreetbuddha in Analysis, Psychology.add a comment
For some reason people think that technical analysis can predict the direction of the market. The assumption is FALSE. Technical Analysis is a basis for assesing RISK. Based on the analysis of trendlines, support levels, and volume, one an enter the market at a predetermined risk. In other words, you don’t know where the market is going. Nobody does. All you can do is place your trade and set your stop.
