1) I failed to get out in time. I made a decision that I was in for x number of days but I hang on too long though the flirt was no more looking like fun. I kept hoping that there would be fun. I kept waiting for too long.
My problem: I hate to be wrong but to me, I guess it is okay to be stupid. I stupidly kept waiting a day more, a week more...I got into a trap and my flirting targets actually fuc*ed me. I need to be disciplined. I need flirting at the right time, and if it ain't happening, I am not waiting!
I MUST WATCH price and time stop-losses.
I MUST WATCH price and time stop-losses.
2) I really failed to find the right flirts. I didn't realize that what I picked for flirting were actually in a period, or were sick! I failed to recognize that there was no fun, but only baby-sitting. Sometimes, a stock looked too attractive because it had a solid day. It is like the subject had a lucky day and a great look for a day, but nothing long-lasting or powerful enough in it to generate a strong following. I got duped!!
My problems:
* I jumped on too quickly. Just one day of a powerful movement with a very high volume is not enough. There has to be more proof. The stock has to cross the recent top with solid volume. Either a new high or a few more days of great volume.
* There need to be at least two signals, two positives before flirting.
3) I traded with totally unknown stocks. I was overconfident. I thought I had the eyes, skills to find a stock before anyone else notices the value. I thought I could locate a flirt where nobody else can.
My Problem: I think I need bragging rights more than the money. I tried to get on the stocks too early before they were proven in a trend. I wanted to eat the whole pizza- buy at the bottom.
I must wait for the trend to confirm. I must see that there are others like me who are watching or are interested in this same stock.
I must wait for the trend to confirm. I must see that there are others like me who are watching or are interested in this same stock.
4) I traded with convictions. I flirted not because of the looks or signs but because I thought they coulda/woulda/shoulda. I need to be just a flirt- not a philosopher. It is not my business, nor do I have skills to see the future. I don't need to think the stock should, or it would go up! I traded UVXY...because I thought the market was going down and it made a perfect sense to own it. I bought them around $30 and they are at $20 today. My thinking, assumption that the market is going to go down forced me in an easy trap. It is okay to invest or buy based on convictions or assumptions; it is okay to get into relationships because I think... but for flirting? It is just the hotness of the subject, and the future bigger following that should matter.
My problem: I am trapped by my outlooks. I make judgement first that the market is high or low, and then I try to reduce me risk. That can be okay for a long term investment but not for flirting. For flirting, if it is hot, it is time to flirt. If it is starting to feel cold, leave it!
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