You guys all seem to know what you're doing but I just wanted to share one bit of advice that I use
If you book a profit and the stock keeps going higher like when I booked and shorted Yamana at $19.09 and it ran to like $19.39, in the past i'd be pissed and try to get back in and screw everything all up. If I can even book in 3-4% bunches then I could give a fvck what happens after I sell.
You guys seem to see the ranges just like I do which is the most important thing. The only thing in the way is the mental part of it.
It's great advise Joe. In fact please continue to reinforce this lesson because my emotions sometimes get the best of me, and I will get pissed when I miss the end of a big rally. It was a big problem in my earlier trading days.
ReplyDeleteAfter losing 5%, a 5% gain will not get your money back, it's always better to preserve your capital. It took me a while to get this.