I have become concerned that I may be selling positions too early. I don't have my thoughts formulated so I am going to put down my thoughts and try to make sense of them after.
1. Most likely you will not be able to sell at the exact top of trend.
2. You don't want to give away profits either hoping to get more.
3. You will get faked out of some positions.
4. You are trying to make money (against some very smart people and computers!).
5. Are you following your rules?
6. Go back and go over your plan!
I think it is important to remember that you cannot beat yourself up if you are making an effort to learn and fine tune your skills. Investing is not an easy task and there will be ups and downs. I think of what Gekko said to Bud Fox in the movie Wall Street:
GEKKO - "You're not as smart as I thought you were, Buddy boy, Listen hard -- don't count on Graham and Dodd to make you a fortune, everybody in the market knows the theory, ever wonder why fund managers can't beat the S&P 500? 'Cause they're sheep -- and the sheep get slaughtered. I been in the business since '69. Most of these high paid MBAs from Harvard never make it. You need a system, discipline, good people, no deal junkies, no toreadores, the deal flow burns most people out by 35. Give me PSHs -- poor, smart and hungry. And no feelings. You win some, you lose some but you keep on fighting, and if you need a friend, get a dog, it's trench warfare out there sport... (eyeing the surroundings) and in here too. I got twenty other brokers out there, analyzing Charts. I don't need another one. Talk to you sometime..."
P.M. NOTES
I guess I have to be more disciplined on my sells. I have to go over my plan and stick to it. I have to develop my sell discipline!!!
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