| satman-1 |
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Member, TeleChart
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| Registered User |
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| Unsure |
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| Tuesday, October 4, 2005 |
| Sunday, August 23, 2009 8:06:00 PM |
5
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I think everyone wishes they had a rich uncle to show them the investment ropes early on. My uncle invested in Exxon in 1974 and I saw him looking at the Wall Street Journal for prices. I asked him what it all meant and he gave me a very basic answer and indicated he didn't know much about the numbers but it was enough to hook me for life. He is retired and still owns XOM and I am now the rich uncle. I think I only have 2 pieces of advice though. 1. Do your own thinking and trust your own thinking. 2. The less I talk about any trade I have on, the better I perform.
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Wow! Liked your comments on stops also.
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Hi,
I've been using a new system that I like. I've been investing since 87. Each day I post my closing prices in an Excel sheet. At the end I have the percentage gain or loss for the security (5 positions, equal dollar amounts). In the next column I manually post the highest percentage gain in the security. I only allow this reference number to go up, not down. Sometimes this column carries a slightly negative number for a week or two for a newly initiated position (maybe I should keep this number at zero? Hmmm). If the stock moves up to a 25% gain and then moves back to an 18% or so I would probably lock in half my gain,(my last column would still read 25%) at 12 to 15% the whole thing. If the stock shows an 8% loss it gets sold and it's usually earlier than that. Each day I can evaluate each position to see if I should buy more(I usually buy and sell half positions)or lock in half or all of my gain. I have one speculative stock with a minus 22% right now. Last week I locked in a 52% gain on a half position (I was putting the numbers in during the day) and while deciding on what to do with the other half the stock has slid to a 33.21% gain. I try to sell on the upswing. For example the maximum possible gain on that position was 53% but I could only see that in hindsight. See how it can protect you from yourself? You're forced to re-evaluate each day and it helps me to see my "possible" profit evaporating.
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Still in uptrend and I kinda like it but look at CMI. Not sure why CMI pulled back so hard except that it really seemed to get ahead of itself and the whole engine buying forward of 2007 emission rules may be about played out.
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Great product. Is there a way for me to plot eps in the price or indicator windows to get a relative view of improving or declining eps trends vs price as NAIC encourages users to do? Thanks
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