Tuesday, May 11, 2010

Share Mkt lessons from 2008--

1)In panics there is almost nowhere to make money without taking excessive risk
2)Timing entries and exits to oversold & overbought conditions helps achieve low-risk/high-reward entries
3)There is no such thing as a safe investment
4)Markets are dysfunctional, corrupt, and have no oversight
5)To let a stock prove itself to me, prior to jumping in based on my analysis alone
6)The ability to change and adapt to market conditions quickly is more important than I thought
7)Don’t look back on missed opportunities but to look ahead for the next one
8)Buy & hold is dead
9)Discipline to a plan is crucial
10)I always tend to make the same mistakes (not having enough patience and trying to get the maximum return in the shortest period)
11)You cannot be complacent in face of headwinds
12)To accept a small gain rather than always looking for a home run
13)Ignore the noise - focus on price action and you’ll do fine!
14)You must take time to analyze your position through multiple time frames
15)Do not succumb to “green screen fever”
16)Just when you think a stock price can’t get any lower, it goes much lower!
17)Takes a long time to build profits and very little time to lose it all. Risk management is key
18)Get a handle on psychology - yours AND the market’s
19)You have to be in it to win it
20)It’s better to wait for the right setup than it is to force something that isn’t there
21)Keep a better trading journal so I can go back and review things
22)There is even more manipulation in the stock market than I ever dreamed
23)- trading is a confidence game. Once you’ve lost it, go to cash until it returns

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