Tuesday, November 10, 2009

Focusing on the Process

 What am I doing right that is working for me?
Longer term swing trades.  Being very patient and initiating trades after the charts set up, and the 'buzz' on the boards is positive.  Then holding for the big payoff and not selling halfway out for breakeven or a small loss.  Only buying the best ideas.  

* What am I doing wrong that is losing me money?
Buying 3rd tier stocks.  Selling far too early on the pocket-ace stocks.

* What are my strongest areas of performance?
browsing the nets for ideas  / creating actionable charts

* Where am I weakest?

 lack of patience, my fear of loss, causing me to sell out too early instead of using charts for exit signs.

* How can I take more advantage of my strengths?
Being more patient, doing more research, charting every stock I buy.

* How can I minimize my weaknesses?
Understand your fear of loss.  Set clear stops that will minimize the loss then stick to it.  Keep position size correct so the loss doesn't hurt.

* What can I do today that will improve on yesterday's performance?
   Review the best ideas and the best charts.  Accept what the market is saying always.

* What can I carry over from yesterday to sustain good performance?

Don't be afraid to just watch.  Observe everything.

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