Monday, March 22, 2010

chopped

Made many trades, had nothing to show for it.

 Really gave it back by shorting... which I have sworn off many times.  I am terrible at it.  They are almost 95% losers -- every single time.

 My winners were value names I know and trust, like YONG and ALJ  -- both were bought on pullbacks.  I know these stocks well.  They were instantly in the green.  I was comfortable with them the whole time.

 This is my edge: buying value stocks using TA -- knowing the names well.   This is what I learned.  It's harder to trade names you're not familiar with.

 I thought the markets would have turned today -- but I thought wrong.  So I took many small losses that added up.  Overall, I was up a tiny amount.  With two trades in play (one down a bit, one breakeven).

 I am now keeping track of everything carefully on a spreadsheet.  I wish I had done this a long time ago.

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