As you begin your day, what will make it a “successful” day?
Spend the afternoon. You can’t take it with you.
— Annie Dillard
I went to my Zumba® exercise class this morning. Only there was no Zumba® exercise class this morning. And I knew that but it “slipped my mind”…
And, just as I was about to tilt into snafu, well, I chose to laugh at myself (once again) and realized that, class or no class, going to my non-existent Zumba® exercise class this morning got me out of bed and into my day: I’d gotten my walk done early (before class) and had time to go to the library and complete some research I needed to do… I’d gotten my momentum going. And as PattiAnn reminded us in The Trend Is Your Friend, momentum can be a good thing IF we’re moving in a desired direction: Continue reading » Carpe Diem – Seize the Day!
Most of life is routine – dull and grubby, but routine is the momentum that keeps a man going. If you wait for inspiration you’ll be standing on the corner after the parade is a mile down the street.
— Ben Nicholas
In my unending quest to become a great trader (and a darn good looking one, too*), one of the maxims I have learned is that “the trend is your friend” – until it isn’t. What that means is that when the market, or a particular stock, is moving in a consistent direction, you want to be trading that stock in the direction it is moving. The key is to figure out when it changes direction.
* When I attended an investing class last year, the instructor would have us start the morning by repeating the affirmation: I am a great trader. I am a great trader. I am a great trader – and a darn good looking one too. My friend Teri and I added for our dogs: I am a pack leader. I am a pack leader. I am a pack leader and a darn good looking one too.
You might think that deciding when a stock has changed direction would be self-evident, but trust me, it’s not – at least not to the inexperienced investor. The reason that it’s hard to be sure whether a stock has changed direction in the short term is described by another truism – Continue reading » The Trend is Your Friend
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