Good luck LTB!
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Good luck LTB!
Thanks Tom! BTW, is posting my trade that I talked about over in TSPTalk legal Monday Morning Quarterbacking?
OK, but how about adding a link to it here for verification? Thanks!Quote:
Originally Posted by LTB
Alright - let the games begin! To start with I'm a bit of a novice trader, made lots of mistakes (holding too long, not setting limits and/or stops) but have made some decent trades. I owe those successes to knowledge I've gleaned from the TSPTalk forums....
Today I sold SKF at 165 (great minds think alike, Gumby). I picked it up last week at 125 (http://www.tsptalk.com/mb/showthread...=4261&page=298) so I had a nice pop of 32%.
My problem is when I have cash sitting in my account I have a hard time not buying something right away. Hopefully I'll be a bit careful and I always want cash in my account to buy SKF when it drops, it plays like a yo-yo.
Our biggest enemy when trading is ourselves. I have been doing this for many years and I still feel like a novice because it never seems to get easy.Quote:
Originally Posted by LTB
I started this Trader Talk forum/thread --> (http://www.etftalk.com/forum/forumdisplay.php?f=47) so we can talk about the obstacles traders run into and maybe, just maybe, we can avoid one or two mistakes by learning from others who have made them already. Sometimes it's inevitable though. No pain, no gain. :)
Hi and welcome, love-to-bike! I wondered who LTB was until I saw your avatar. :)
Lady
Hi LTB, good to see you over here and I expect we will all benefit from your experiences.
We all need more trades like yours :)Quote:
Originally Posted by LTB
I am looking at a buy back in on SKF @$150....may not get there for awhile. This ETF is not for the faint of hart:nuts:.
Thanks for the compliment. You made my day.:)
I just set a new record. Last week I sold my SKF (the 17th) and I managed to hold on to the cash until today. At the end of the trading day I couldn't hold off anymore, I bought some GNK at $11.14. This has been a good stock for me in the past - shipping sector with good management. Normally this is a long-term hold for me but I'm expecting/hoping for an upward swing over the next week or so. No data to support this, just a feeling (which has now turned into prayer). Earlier this month is was trading around $20.
Sold my GNK at $13.54 - I had put in a stop there from yesterday's high. The trade was a 21.54% profit so I'm happy with that.
I'm currently in Australia (rest of the month), it is difficult to trade with a 12 hour difference. I have no feel for the market so I'm feel out of touch. What to do???? :confused:
Re: GNK
Nice LTB. Looks like GNK was a wild one for you.
I went through a simular problem on my last deployment. I left in Sep 2007 just before the market's peak and was fully invested in stocks. When I got back in Feb 08, I learned a costly lesson the hard way...:(Quote:
Originally Posted by LTB
Looking back at that situation I wish I had been more diversified, it would have at least softened the blow.
OK, I'm back from Oz, what a wonderful country to vacation in. The only bad part was being so out of synch with the markets here in the US. And I made a classic mistake, I bought FAZ around 50 and then went into the rain forest for several days. By the time I came back out (after wrestling a couple of crocs) it had tanked. Lesson learned, never buy something volitable when you can watch it closely.
So today I'm back in - bought SKF at 98.51.
Welcome back! A lot of us here did the same thing with FAZ - and we WERE watching. :eek:Quote:
Originally Posted by LTB
Well no luck with FAZ so I went back to an old standby, SKF. Bought some last week at 98.52, yesterday at 60 and this morning at 62.74. Putting a bunch of Easter eggs in 1 basket, but I'm hopeful for a gain soon. Will put some stops in the prevent the FAZ fiasco...