I don't post much here but I spent years keeping a trading journal, not the kind with entry prices and stop losses, but the kind where you write things down at 2am after a bad week. Now I put it together for boom and bust traders.
Maybe it helps someone.
https://t.co/KVHRFY8j6o
Interviewer - "What would be your biggest single lesson in 2005?"
Dan Zanger - "Not to be in the market all the time. Trade far less than I currently do, far less. I really have found that the market may have 2 big moves during the year and they may last 6-8-10-12 weeks. Other than that they just exhaust themselves after that. The rest of the time the market is just consolidating those gains. The big lesson for me this year has been to just trade less, trade fewer stocks. My goal is to own 4 stocks that are "power house" stocks when the market bottoms out. Then the market will take off and run for maybe 10-12-13-14 weeks, whatever it does, and then after that just trade out and go to golf. Go swimming, go to cash, enjoy your time and wait for everything to set up and do it all over again.”
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." ~ George Soros