dare i say words of wisdom..., page-11

Well looks like I need to follow up on my original post already...

Now after writing what I thought was an informative post on how not to lose a bundle of money my intentions are being seen as dishonest...an ulterior motive.


Why?

Because I changed teams...I have somebody pasting a post of mine when I was in LUM and it was trending up...in that post I provided a lot of information that people could debate or agree with..thats what a forum is for.

Why did I promote LUM in the first place...because I thought it was a good stock with potential therefore speculation could easily be priced in causing the stock to run.
Is it wrong to promote a stock...tolhurst and balleius promoted LUM at the same time putting buy reccomendations...I even have a broker working at burkett and young that put out a buy price on lum when it was in the 70's.
If I am a sinner for promoting the stock so are all the brokerage houses that also promoted the stock...arent they??

What if we didnt promote stocks we thought were good..isnt that the reason for these forums..I mean Im more than happy to discuss trading tactics and have done so a number of times but the responses are lacking.
So if we cant discuss stocks we are in then you shouldnt think newspapers magazines and brokergae reports should exist...all they are doing is promoting their stocks.

The real reason people are upset with me is I changed teams and this goes back to my original post in this thread.
those who are attacking me shoul re-read that post and then think about what defending their stocks is really worth...think about falling in love with your stock and relating your stock to your ego.

When did I start bagging lum...When the stock went into a downtrend...basically I was putting people off buying the stock as it was falling...I bet I saved people a lot more money than stolwyk or gaga did...they have been promoting the stock all the way down.

Because Im now bagging LUM does this mean I wont re-enter it...of course not...if the trend goes up I will buy it..I will change teams once again whether you like it or not.

Whilst you sit there and attack my posts and ideas and defend your losing positions you are missing out on all the other stocks that are moving.

If you make a bad decision thems the breaks...get out of it and move on...there is nobody to blame but yourself.

Most of those people holding LUM do not have a trading plan.
A trading plan is an idea that when applied to 100 trades should mean that you make money...it means you place the odds in your favour.
Things that go into a trading plan range from money mangement...stop loss techniques...pattern charting etc etc.

The main thing a good trader needs is discipline..discipline to follow those rules that are in their trading plan.
If you have a plan that places the odds in your favour and you keep following thta plan then you must win.

Concentrate on finding a good trading plan if you dont have one already...dont worry about where you next trade will come from if you dont have a plan.
Spend the next few weeks developing a plan that works..the market will always be there tomrrow for you to apply your succesful formula.

If you are thinking you dont wont to miss out on the next good trade this week then think again because the odds are you will lose again this week and the week after.


What trading plan should you use is up to you as it will depend on your own personality.

Good luck y'all


Hooroo