From thomast - What a day. I start thinking, for people who have to work day time, it might not be a good idea to trade stocks. Maybe better stop 'investment' completely?? How was everyone doing? Looks like it's quite possible the 6/12 low would break. Snowrider laoda, pls let us know when you take action in next couple of days. Thanks.
thomast - Any decision that a person makes has its own risk. From buying a car to marrying someone, all involve some risk - big or small. One can avoid the risk of 'investment' by putting money in the bank, and then it runs into another risk - inflation. When we are trying to scoop some money from the market, we are competing against the most brilliant people in the world, and you know that the risk is that they also want to scoop your money away. Some people enjoy taking risk, but some don't. As long as you know where your bottom line is, the risk is just like some token that you can use for betting for better reward.
If one does not trade, her life becomes much simpler. Why? she will know how much she can make in her whole lifespan by multiplying income with working years (maybe 5% per year salary increase?). Then she knows what she can achieve at most in the end. Then she knows what dreams she can have and what cannot (aford to) have. Then she knows her life is a done deal! Trading provides you not only the thrill of riding roller coaster but also the dreams!
I guess that everyone is doing well. I am a relatively conservative trader. Even if the market were to crash and got me stopped out, the damage would not be too bad because I always stick to some very rigid rules on money management and risk control. BTW, "... for people who have to work day time ...", trading the medium- to long-term timeframes is the way to go for them, as long as they place GTC stop orders to protect their positions. They do not even need to monitor the market during the day. Hope this helps!
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