Posted by junkmaylbox on 21st of Jul 2009 at 05:38 pm
Bill, almost everyone would have done the same thing as you have
today. The up trend is very strong. Money is to be made by going
along with the market this year, not against it for whatever stupid
reason. this time one cannot blame margin clerks for excessive
buying. We'll have fun riding down off the top. Good luck!
Bill, it was a very tricky day. Don't be too hard on yourself.
Just learn from it -- the lesson I would take (and granted that's
me and what works for me) is to set your stop before you get into
the trade -- chose your fib level, or R level, and live with it.
FWIW I've found I just get myself in trouble when I try to
reevaluate when I'm in the middle of the trade, because that's when
the emotions always take over. Anyhow, pat yourself on the back for
good money management in general -- probably nothing more important
in the long run than good money management. I can't begin to tell
you how many times I have done what you did today, before I learned
to get tough with myself on that one! And you know what -- like an
alcoholic I still slip every once in a while myself!
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Bill, almost everyone would have
60 period stochastics looks like it is having trouble getting ...
Posted by junkmaylbox on 21st of Jul 2009 at 05:38 pm
Bill, almost everyone would have done the same thing as you have today. The up trend is very strong. Money is to be made by going along with the market this year, not against it for whatever stupid reason. this time one cannot blame margin clerks for excessive buying. We'll have fun riding down off the top. Good luck!
Bill, it was a very
Posted by puma on 21st of Jul 2009 at 07:46 pm
Bill, it was a very tricky day. Don't be too hard on yourself. Just learn from it -- the lesson I would take (and granted that's me and what works for me) is to set your stop before you get into the trade -- chose your fib level, or R level, and live with it. FWIW I've found I just get myself in trouble when I try to reevaluate when I'm in the middle of the trade, because that's when the emotions always take over. Anyhow, pat yourself on the back for good money management in general -- probably nothing more important in the long run than good money management. I can't begin to tell you how many times I have done what you did today, before I learned to get tough with myself on that one! And you know what -- like an alcoholic I still slip every once in a while myself!