If you could go back in time, which error would you not make again?
Trading Mistakes
- Thread starter Ethan.ishere
- Start date
For me, trying to take a wage out of the market on a daily basis was a big mistake. I still do some short term trades, but my performance and my sanity are multiples better by taking a longer term view with the vast majority of our accounts.
Just 2 examples:
Bought OXY warrants at $2.89 a couple of years ago. There at $44.75 now
Bought TBF at $16 when rates were near 0. It's at $26ish.
I also have a couple of what I call "lottery tickets", but the losses in those are like .004 of my total.
Just 2 examples:
Bought OXY warrants at $2.89 a couple of years ago. There at $44.75 now
Bought TBF at $16 when rates were near 0. It's at $26ish.
I also have a couple of what I call "lottery tickets", but the losses in those are like .004 of my total.
%%
WELL with 20-20 hindsight=skip the single stocks; but that was still not a complete waste of time. But continue in IBD books but for ETFs , not single stocks.
OCT, Columbus Day month, reread Jim Cramer's Real Money book;
explaining to a new trader why not to buy cheap junk like Rite Aid for $5, WBA better+ much more expensive, but not bankrupt like Rite Aid.[ETFs= consist of single stocks.....]
WITH 2o -20 hindsight average a bit more business + paid for Real Estate.
A bit more selective on counter-trends; but even those help with trends=friends
