The $500 Experiment

Quote:

Originally Posted by orange

dang- NOBODY got started today??

LOL. my watchlist was AWFUL. like rowing thru mud. out of 9 only one moved was tdcp LOL and i couldn't didn't wouldn't believe it.

i'm thinking i was being too careful. something abt this experiment focusing the mind but i got to loosen up too i think. anybody else feel overly cautious? how come?

Not at all overlycautious, Orange. Relax and be confident in yourself. I had to work most of the day today and was pleasantly surprised as to how well my watchlist for this experiment did. I'm in and out of my first trade in this with a profit and already went after my second with loss limits set if they happen (right now I'm up 5%). I set aside enough from my gains on the first to cover any loss and still maintain my goal for gains on the second. So my second trade is automatically a success. This is how I look at it. I don't think that most people enter into a stock trying to get 10%. Everyone wants more. The whole idea of this is to discipline yourself to take what the market gives you and as you well know, getting 10% is possibe. If it's a loser, everyone needs to have limits that are tolerable and get out. Pennies are not investments for the most part. I don't expect to become a millionaire off this. I expect myself to get even better at being disciplined and picking stocks that are ready to move and taking profits when they are there. This experiment is about following entry and exit points without emotion in my opinion. It is a very valuable lesson that whether I make $20,000 or lose $1,000 I will learn from. You know me well enough to know that I don't do this primarily for the 10 bagger. Small gains will reap everyone big rewards. You're all about this. Give yourself the credit that you deserve and enjoy the green.