Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice! As always, please remember that I am an amateur investor, so please remember to consult with your professional investment advisers prior to making any investment decisions based on information on this website.
I was traveling today and didn't realize what an awful market it was. I am sure that many of you took losses. I know that I did. And it really makes me want to consider my effort at "trading" beyond my investment strategy. In many ways it undermines my efforts at 'listening' to my portfolio. My stocks are talking to me loud and clear. And yet I try to deny their message. I did so again Monday.
I purchased 1200 shares of SNCR at $24.99 yesterday morning. And almost immediately the stock turned lower and I sold 600 shares at $24.20, 600 shares at $24.69. I was smart enough to sell my shares but I wasn't smart enough to avoid buying any.
What to do about 'trading'. I suspect it really doesn't fit at all into my strategy. Perhaps when I get a signal to buy something, it would be ok to buy an 'oversized' position and sell off a greater portion initially. Perhaps. But I am not sure about that.
I do know that my excuse for adding positions like Silicom and Interactive Intelligence--both great stocks which also got slammed today, probably shouldn't be in my portfolio. I shouldn't have a back-door entry to my portfolio via trades. I have to make up my mind whether I am an investor or trader.
I shall work on my discipline. That is why I blog. So that I can share with you the struggles that this amateur goes through each trading day. Struggles that I am sure you work with as well. Trading rules give us the structure to maintain that discipline. But will-power is also required to follow through with these plans.
Wish me luck.