Ok, end of experiment. I lost $350 on it and I’ll call it a day. I talked it over with my wife, and I don’t think it’s the right time for me to be going gung ho in the market. I tend to take big risks, and I’m not completely comfortable unless I do push it to the edge. And with a kid on the way, the edge is not where I should be. Sorry for the buildup and let down. Until next time buddy… Good fortune with your trading.
4 thoughts on “Until next time”
Somebody needs to relax and take a breather here….What’s the deal with buying BEAS and selling it a wee lower…Why was that stupid ? If that was your stop loss, you executed your plan and move to the next one. Nothing stupid there. Over the long run, half your trades will be losers. What matters is to adjust your position sizing wrt to your expectancy to ensure that the winners drown out the losers. Tharp’s strange yet interesting book is the famous one on expectancy, as far as I know. Helped me enormously. Not sure it would help you but…
Thanks Sylvain. A breather indeed.
You might want to check out marketocracy.com. There you can create up to ten portfolios ($1 million seed money) to try out your ideas risk free. The top pickers are routinely profiled in Forbes and I think some have even gotten jobs based on their performance. Of course investing real money is a different game and increases your risk aversion but practice makes perfect as they say.
Thanks Eric. I’ve taken a look before, and it looks like they really spruced up the site since the last time. You’re right that real vs theory are two completely different animals. But practice is good. One thing I don’t like is that they don’t let you short, they want to run it like a real mutual fund. I might though, give it a shot.
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