Re: alevin's Account
Originally Posted by
alevin
... Friday I did decide to try to unload slightly less than half my GLD (coulda, woulda, shoulda dumped the entire amount for sake of trading cost if nothing else). Bought it at 90, sold partial at 85.55.
.... So far ( mostly due to trading fees), I'm down about 6% between the two accounts total-losses incurred in the taxable account. The more I trade the more account fees eat into the capital base, even when I don't sell for a loss.
Gotta watch that way more closely and do even better job of picking things I'm willing to hold for longer periods, or things with high volatility where I can get in on the right side of the trade and have enough time available to react to price changes. Not sure what that will be yet, workin' on it tho.
I have also decided the hard way that in the last couple of months the only person I was making money for was my broker. I'm down way more in my account than 6% - like about 20% - because of the dumb moves I made with FAZ. That was an expensive lesson but I learned it well. Levered funds that rebalance daily might work for some folks but not for me!
Re the stock picking, I'm taking a book with me on my medical trip (leaving this morning) that may have part of that answer. It's called "The Ivy Portfolio" by Mebane Faber. I'll report back to the group on what, if anything , I learned when I return.
Until then, good trading my friend!
Lady
If you think education is expensive, try ignorance. - Derek Bok