Thanks everyone! Amazing techniques and food for thought.
@Dazedandconfused Yes psychology is a huge factor. I definitely go through cycles of frustration and elation, more frustration. The main reason why I stopped using a system was because mine was based on volatility. It was calculating a value for share price volatility, working out a stop and then working out how much I could buy based on potential loss. It kind of meant I would have a portion of my capital active while I tried to find prospects for the leftover.
I've noticed that some chart setups are so unique and come once in a blue moon that it'd be a waste to use a formula to determine position size, so I need to be flexible. That being said it is a slippery slope as well, because sometimes you think you got a gem of a stock, go all in and get burnt.
I do need to implement some kind of system again, I guess. I'm not using a lot of capital at the moment though, so I don't mind taking the risky route. I have this hairbrained scheme to make $800K in 8 months (with less than $10K), going by my previous trades it's very very unlikely, but it keeps me motivated and amused.
@togakure's kelly method sounds grand. I was considering something along these lines, where you get a bigger position size if the previous trades have done well, smaller if on a losing streak. It's something I would use along with parcels.
Kangagirl, if I get parcels of a stock, I generally treat them as a family. Buy a few lots and then sell them all together, unless I need cash asap.
