Monday, 22 October 2007

Just Do It!

I'm not endorsing any athletic shoe brand just because of the title. Besides, they're not sponsors of my blog.

Kidding aside, today's trading day was one that called for a definite kind of action. Knowing beforehand that we were gonna be hit by a double whammy of sorts, the trader in me was shouting, "Just do it! Cut your losses, you @$s!" The question was at what price?

Of course, there is always the possibility that when we sell in the first 30 minutes of trading, we could be selling early. Then again, the other side of the coin may say that you're going to get hit with a bigger loss if you don't sell now.

This was a case of selling, whether right or wrong, and sticking to your decision. There are no regrets in selling today. It could be worse. Therefore, I was determined to be liquid despite what's happening. Whether I'm right or wrong about selling is now beside the point. If you don't want to be another statistic, the best thing to do now is to be liquid.

I will just return when things break out of another formation. Hopefully, with a vengeance!

2 comments:

Anonymous said...

Couldn't agree more with you. I absolutely did just that awhile ago. My goal has always been capital preservation before profit.

clarisse

ninodal said...

Tama! we should stick to our decision and on our plan, if the price movement breaks our plan we should react and cut our losses before it's too late...

Thanks for always reminding us to be disciplined trader master tarantrader :)