So Far No Good
It appears that the bulls really haven't shown up much today and may be waiting for the "real deal" tomorrow. USA Today announced that the fate of the stock market was to be determined tomorrow.
I don't know about everybody else, but I'm not waiting on the sidelines. I'm fully invested (and losing so far today). I'm getting tired of being burned every time I try to time things. I do much better when I pick a stock and let it do what it does.
Speaking of timing, I have found that waiting until lunch time when making a buy has helped me tremendously with my emotions and with getting a decent price for a stock. I used to buy before 10:00 am and often sat there with my hand on the trigger waiting for the best time to jump in. I ALWAYS second guessed my decision no matter which direction the stock headed.
Things usually level out during lunch time and it seems to me to be the best time to place a trade. I'm in a much better frame of mind to make a decision and I usually can get a better feel for where the stock is headed for the rest of the day.
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4 comments:
When I first started trading, I always bought in the morning and became annoyed when the stock closed for the day at a loss. After a year of that, I started buying 15 minutes before close and I don't care what it does the last fifteen minutes. For some reason buying in the morning was stressful and buying near close was stress free.
I've thought about buying just before the close as well. I don't know if I could be unemotional the next day after I bought the stock after it went up a bunch.
I've tried buying early in the morning at around 10:00am, in the afternoon, and near the close.
I used to buy early in the morning because of my full time job. It worked okay because I wouldn't think about the stock until I came home.
So which one worked best for you Kevin?
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