viphar's qna session with ipod and palz, page-86

WOW

Just read all your posts just now.

Thanks ipod. That was the best post i have ever read. I cant believe the amount of effort and expertise that went into that post. I could just feel the experience coming out with the words you said. You posses some great talent and skill that comes with DT'ing that will get you very far in life, since it has a lot to do with life skills. Selling is defiantly harder than buying. Lately my trades have ben terrible and i blame my mood and emotion. I panic and its stupid. I need to be level headed and treat it like a business which is SO HARD to do despite how easy it sounds.

Money is something people get attached to. If i was trading with jelly beans i would be a jelly bean millionaire with no teeth. However put a 5 year old in my position and they would probably suffer like me cos they would be too attached.

QUESTIONS:

1 My biggest fear about making seeing the share go up as soon as i stop. Take WHN as a recent example. That buying FML back at higher than my stop was a moment of semi frustration and doing things against the norm since i also stopped at the lowest. Do you ever feel this? and does it ever happen to you? How do u handle it?

2 As you can see the maximum amount of shares i can hold is about 3 or 4 if i buy in my usual bundles. In your opinion is that too little. There are times that i want to buy multiple stocks but cant due to this factor and end up picking one. Should i diversify like the old saying goes? Or is 3 to 4 shares manageable?

3 I am aware you use IRESS. How do you manage to stop so quick. Do you use the inbuilt order window or the website?

4 On the flip side to stops is profit taking. As simple as it sounds how do you profit take. Is it generally the same margin as your stop or do u just get the feeling its time to rake it in?

5 How do u decide your stops. Are they percent based, value based, or based off risk? Is there any tricks or techniques you use to become emotionless and business like with your trading?

I am really at awe to the knowledge and wisdom you posses. I am also very grateful that you have put time and effort into a youngen like me. I know you dont know me in person but know i really appreciate what you are doing for me and others out there. What you say is so hard to find in books and even seminars, it priceless. If i ever become even half as good as you i will be sure to help others such similar to myself and think about about you while doing so.

I might take a break or ease up on my trading until i get a clear head again. It is also my last term of uni and i am busy applying for jobs and CFA not to mention the stack of work they have given me.

As a side note:

Many ppl didnt pick up that i forgot to add my dividends to my gain. So its actually 15.5ish instead of 13 :) Come on guys u dont want to make that mistake when reading announcements and reports :).

What is crushing is not the fact i lost money since i know its trivial compare to what i will be dealing with in the future. It more a fact of the percentage loss and also the fact that before this downfall i really thought and believed i had talent and skill in DT. It is demoralising when this happens and you begin to think again. Never the less i know im better than the average joe at this and have just hit a hurdle thats all.

Thanks again ipod and friends if i knew how to repay you for this priceless knowledge i would.

VIPHAR