"If you dont sell early, you'll be late. The object is to make and take significant gains and not get excited., optimistic, greedy or emotionally carried away as your stock's advances get stronger."
TEH : Profits are profits to me ... no matter even if it is just a mere RM10 bucks!!
Beanard Baruch, the financier who build a fortune in the stock market, said " Repeatedly, I have sold a stock while it was still rising --- and that has been one reason why I have held on to my fortune. Many a time, I might have made deal more by holding a stock, but I would also have been caught in the fall when the price of stock collapsed"
TEH : Yes, I have sold MANY MANY far too early!! You should notice my Unisem, PChem or even UOADev recently. IT still move higher after I sold them. Simple logic, I will move out of those moving fast wagon, to move into those laggards ... and dont worry, when many coming in again, I will be glad to sell and move to the other .... and repeat the process, trades after trades. I never really regret I sold early. It is still profits!!
When asked if there was a technique for making money on the stock exchange, Nathan Rothschild, a highly successful international banker said " There certainly is. I never buy at the bottom, and I always sell too soon"
TEH : Yup, I seldom catch the bottom or sell at the peak. It is not reasonable to do such, and looking back with regrets are not for good traders. Move on ... that is the key word.
What all these Wall Streets legends believed was this : you simply must get out while the getting is good. The secret is to hop off the elevator on one of the floors on the way up and not ride it back down again.
TEH : Remember that stock-prices are driven by fear-greed. By being a contrarian, one should go the opposite direction. So, when things moving higher, the risk increases significantly too. Hence, we will want to take profits. If one is using some technical system(s) to sell or even average-up, that is brilliant. These are real traders to me ... and I am still learning to be a good trader.
Read as much as you can, my tratles and e-tratles. Read more, my dear readers ... then take action!! No point talking too much about these or those ... if one do not apply what ones knew. Only by applying and being in markets, REAL TRADING, you will gain experiences. Learn that well, you will not regret. Do that many of times, taking profits again and again, you will be pleased to SELL ... SELL when many ignorants in markets want them.
TEH
Fasterom
Yup, I'm agree with yours trading principle. Buy at weakness and sell on strenght not buy the "weakness counter" ok.
2012-01-24 08:20