| Author |
Message
|
| goldguy2 |
 Posted: Wed Dec 07, 2005 2:08 pm Post subject: Rubbing the Magic Lantern |
 |
|
Investing Sr. Associate
|
[color=black][/white]
I'm a long-time stock trader but not a long-time winner. Over the years I've had nice profits and agonizing losses. I've listened to professional brokers and ventured out on my own. I've tried Dow 30 stocks and tiny penny companies. One by one I've experimented with pure fundamental strategies, pure technical analysis strategies and mixes of both. Each time I come up with a new method that seems to be cranking out a string of winners and I plunk down my cash I discover again that no system is perfect. My suspicion is that greed is the culprit, with fear an active accomplice. Often I monitor a stock for a few days or weeks and get right up to shelling out the cash, but pull back. The next day I find it would have been a great buy. On the other hand I find myself with a stock soaring to unbelievable heights for a week or so after I bought. I dream of yachts and mansions. When price finally stumbles, I call it profit-taking and wait for a recovery. That's how I watched my beloved AOL drift down from $51 to the $16 where I finally dumped it. I can say that I've withdrawn my original money from my account and am trading with OPB (other people's bucks), but somehow I dream of the good old days when every pick seemed inspired. This is just nostalgia I wanted to express. I dislike whiners. Do greed and fear bite everyone now and then, or just me? |
|
| Back to top |
|
 |
| Benjamin |
| Posted: Wed Dec 07, 2005 3:32 pm Post subject: |
|
|
Administrator
|
Welcome.
It's great to have another well experienced trader in our midst.
Just from what I've seen around here with those on the Sim I can pretty much say everyone takes a loss now and then. It's the rebounding and rebuilding that I could see becoming a great challenge. The key I think is rising to that challenge, but not too much to the point where your not investing anymore...your gambling and in too deep.
Thanks for joining and hope you can have a little fun with trading again!
This is a good quiz to see if you may be taking it too far  :
http://www.einvesting.com/viewtopic.php?t=1516&highlight=gambling |
|
| Back to top |
|
|
| DKnightSr |
| Posted: Wed Dec 07, 2005 3:37 pm Post subject: |
|
|
Member of the Month
May
|
Been there, done that, bought the t-shirt, lost my (t) shirt!
Greed, fear, yes... but you forgot ego. Why did you hang to AOL so long? Didn't want to admit you goofed? Hey, I'm guilty too. Rode Williams Bros (Natural Gas) from $27 to $16 on a thousand shares a few years back, just 'cause my wife said I'd goofed. By God I was going to show HER!
Well I did, I showed her what an egotistical a_s I could really be
Don't feel badly about your situation... you have LOTS of company  |
|
| Back to top |
|
|
| frusnak |
| Posted: Wed Dec 07, 2005 3:47 pm Post subject: Re: Rubbing the Magic Lantern |
|
|
CFO
|
| goldguy2 wrote: | [color=black][/white]
I'm a long-time stock trader but not a long-time winner. Over the years I've had nice profits and agonizing losses. I've listened to professional brokers and ventured out on my own. I've tried Dow 30 stocks and tiny penny companies. One by one I've experimented with pure fundamental strategies, pure technical analysis strategies and mixes of both. Each time I come up with a new method that seems to be cranking out a string of winners and I plunk down my cash I discover again that no system is perfect. My suspicion is that greed is the culprit, with fear an active accomplice. Often I monitor a stock for a few days or weeks and get right up to shelling out the cash, but pull back. The next day I find it would have been a great buy. On the other hand I find myself with a stock soaring to unbelievable heights for a week or so after I bought. I dream of yachts and mansions. When price finally stumbles, I call it profit-taking and wait for a recovery. That's how I watched my beloved AOL drift down from $51 to the $16 where I finally dumped it. I can say that I've withdrawn my original money from my account and am trading with OPB (other people's bucks), but somehow I dream of the good old days when every pick seemed inspired. This is just nostalgia I wanted to express. I dislike whiners. Do greed and fear bite everyone now and then, or just me? |
Hey welcome to the club 
I can relate to where you are coming from and the one thing I've learned is to have an enter and exit strategy and to stick by it. Greed is our biggest enemy...if I wait one more day, one more dollar etc. As cramer says Pigs get slaughtered |
|
| Back to top |
|
|
| Iceemaan |
| Posted: Fri Jan 06, 2006 9:25 am Post subject: |
|
|
Investing Manager
|
| You joined before me but I thought I would say Hi |
|
| Back to top |
|
|
| NCSUPAGE |
| Posted: Sat Jan 07, 2006 11:25 am Post subject: |
|
|
Investing Manager
|
| I think I've got the wrong lamp...the Genie must be in ScootKlein's... |
|
| Back to top |
|
|
| Im Not Warren Buffett |
| Posted: Sun Jan 08, 2006 7:28 pm Post subject: |
|
|
CFO
|
| How many North Carolina (State, go Wolfpack?) kids do we have here? And do you all have the same stocks, I saw your percentages we're pretty close together at some point. |
|
| Back to top |
|
|
|
|
stock market game on the web. At eInvesting you compete for monthly cash prizes while you interact, make virtual dollars, purchase items, and trade in the realistic stock market simulator. We make investing FUN!
