02 March 2007

Is It Time To Hang On?

I guess the question here is what is the other guy thinking? We can all watch CNBC or Bloomberg and read RealMoney or the WSJ till our heart's content...We can look over every chart, tweak every indicator and scan every sector and talk to the neighbor and of course call mom...kind of like an early Mother's Day...we can turn off the mute when Jimmy C is on the tube and even stomach a little Larry Kudlow. We can answer all the questions now that WE are the center of attention...
" Oh, him? He trades options or something like that..."
My general rule is to say, "If the market is off the front page of your local paper next week, then maybe you can think about buying some NetFlix."
I guess the answer is discipline. Watch your support levels and define your risk. Don't hang around waiting for your favorite stock to bail you out with an even P&L for the day...it may not happen this time...jfg.


ODA125 said...


Good post!!! Why try to "push" something? Let things "reset" and then dive back in. Daytrades for short - monitored periods is certainly an option for the experienced trader but not the average..... You do a great job posting your daily acitvities and thoughts.

YukTrader said...

Thanks for the good thoughts ODA, it's taken a lot of work to get this far and I just try to relate what I'm thinking and feeling.