Wednesday, December 23, 2009

Positive Experiences

One of the keys to developing as a trader is to remember what works and reapply those experiences.

Two investments I made recently, BOLT and ENDP were made after researching their value and deciding they were cheap.

I bought both and they turned into losses.  However, after several days, both started to rebound and are now green.  Many times I have bought cheap names and then sold them even lower... instead of giving these value swing trades time to swing back around.

My best wins have been holding value names for a very long time -- 4 - 6 months.  And sometimes even longer.

 Next year I plan to be very slow to act, make fewer trades, and make more by doing less.

 What has failed has been attempting to daytrade, focusing on short term plays, lottery type picks.  I will do less of these.  I will do none - how's that?

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