Noahedwinbeach2
135 posts
msg #27268
- Ignore Noahedwinbeach2 |
7/8/2003 7:30:38 PM
I am so sick of finding stocks that I know I should buy and then the next day they shoot up like 20%. They dont gap up either which means I could get in in the beg. of the day and ride it to the top. An example of this is TRAC. I knew I should have bought that damn stock 2 days ago! I am a short term trader so this wouldnt apply to you long term guys. If any of you are like me though you feel my frustration! I have decided to grow a new set of balls and start taking risk just setting a stop loss close to my purchase. I am sick of missing out on gains and settling for crappy gains!
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JoeGrossinger
165 posts
msg #27270
- Ignore JoeGrossinger |
7/8/2003 8:39:25 PM
LOL!
May the trend be with you.
http://www.koliga.com/forum/viewforum.php?f=11
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karennma
8,057 posts
msg #27271
- Ignore karennma |
7/8/2003 9:23:21 PM
Noah. Don't feel bad. I'm "haunted" or tortured psychologically all the time by my mistakes.
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193987
6 posts
msg #27273
- Ignore 193987 |
7/8/2003 10:26:27 PM
Don't be too hard on yourself Noah. I watched SMTR, WEL, OWENQ (several times), AAC and worst of all VRA go up like crazy and I used exactly the same language as you just did. I could have made 132,000 bucks on VRA but I had no focus and no experience. We've all been there. Don't be too hard on yourself. Nice thing about the market is you get another try, just as long as you still have cash in hand.
Good luck and lets trade more filters and tips. ;)
Tom
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Noahedwinbeach2
135 posts
msg #27275
- Ignore Noahedwinbeach2 |
7/8/2003 11:04:41 PM
Thanks guys. Your all like family to me :) It's hard to find other people who share the same ambition towards stock trading as we do. Most people are pessimistic when it comes to stock trading because they are scared of the market. It's hard talking to them and they just keep telling me I will lose my shirt. You guys provide a lot of knowledge and support, and I thank you for that and stockfetcher.com
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holygrail
72 posts
msg #27277
- Ignore holygrail |
7/8/2003 11:19:42 PM
For the record, this is NOT Holygrail. I am his trading buddy.
===============
FEAR
===============
I have been telling people to FORGET EVERYTHING THEY KNOW.
Today, I realized I left out the most important part....
FORGET EVERYTHING YOU DO NOT KNOW!
What you don't know is what is going to happen next... ANYTHING CAN HAPPEN!
When you let what you don't know influence your buying/selling, this causes you to hesitate. FEAR takes over!
FEAR is what is keeping you from SELLING when you need to sell and BUYING when you need to buy...
Fear has been defined as False Expectations Appearing Real.
Have you ever said:
"Everytime I sell it goes up"
"Everytime I buy it goes down"
"I am always on the wrong side of the trade"
I know I have.
It took me almost a year to find out why the above statements appeared to be true. One friend said to "find the pattern".
I looked and looked. It wasn't until I was taught the value of LINEAR REGRESSION by another friend that I found the answer.
One judgement error usually produces another...
1) Enter stock at "wrong time" too close to upper Bollinger band and/or Upper Lin Reg...
2) Fail to place stop loss immediately after entry.
So, first a judgement error (rule breaking) and a trading execution error (another rule break)
And the stock goes down just like the chart says it will.
This reinforces what you think you know (everytime I buy....)
You refuse to sell the stock because EVERY TIME I SELL IT GOES UP. FEAR has you by the you know what!!
So you wait... and it continues to go down.... days go by.
FINALLY YOU CAN'T TAKE IT ANYMORE SO YOU SELL.
3) Fail to do what the chart tells you to do.
Of course the stock goes up because... EVERYTIME I SELL IT GOES UP.
Wrong, the stock went up because it was probably near the lower Bollinger band and/or lower Lin Reg and you should have been buying!
YOU HAVE TO TRUST YOUR TRADING TOOLS AND TACTICS
=======================================================================
For the record, this is NOT Holygrail. I am his trading buddy.
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RickB
14 posts
msg #27280
- Ignore RickB |
7/9/2003 6:52:49 AM
I understand being gunshy - in the 3 year collapse I have lost a lot -but In the last few months
I have made a lot back - AND NOW that the market has gone up so far I find myself GUNSHY AGAIN - just need to stick to the RULES
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karennma
8,057 posts
msg #27281
- Ignore karennma |
7/9/2003 10:40:51 AM
Rick - you're lucky you've made back a lot. I haven't even made up 1/16th of what I lost. $1.5 M down, only $1.2M to go. Oh boy.
:>(
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Noahedwinbeach2
135 posts
msg #27282
- Ignore Noahedwinbeach2 |
7/9/2003 4:14:06 PM
Holly crap..yeah I dont feel so bad now. That would be pretty harsh losing 1.2m. Oh well my holding on to my balls theory worked and today I made over 15% in ATS. I guess good things come when you stick rigidly to a system.
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