Make that 3 distribution days for both the Nasdaq & the S&P500 in last 4 weeks, not 2 as I posted above. Friday was the 3rd distribution day across the board. And a pretty nasty one.
Charles
When a Trader is Wrong
Started by
Gary Smith
, Feb 09 2007 02:55 PM
22 replies to this topic
#22
slatedrake
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- Traders-Talk User
- 269 posts
Member
Posted 12 February 2007 - 12:20 PM
Thanks for the update Charles
Before you start trading get your brain around risk control. Know how much leverage you're using and know when to go to cash if you're wrong.
#23
outsider
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- Traders-Talk User
- 562 posts
Member
Posted 14 February 2007 - 11:58 AM
Appreciate your comments, Charles. I envy your discipline patience, and simplicity of approach, and your historical knowledge and experience. I know this is a traders site, but I am so happy you post here. Some of the most successful investors have been ignorant buy and hold types, as amazing as it may seem to this group. My brother, for one, spends no time whatsoever managing and is a complete novice at investing, not even knowing the terminalogy, yet has amassed a fortune through company matching with MRK. Acqaintainces that started on the ground floor with HD that put whatever leftover meager change they could as laborers into HD, have retired in their 40's and 50's! So for all the churning, technical charts, analysis, sentiment, fundamentals, and daily work associated, trading hardly seems worth it sometimes.... Guess you have to like the excitement of the gambling aspect whether you make a profit or not as a trader.
---Out
