Forum Archive Index - October 2001

["geoff_julie" <gk_jawalker@paradise.net.nz>]

I Claudius;

 

thanks for your excellent response.  Whilst I agree with your comments, regrettably I have been burnt more times than I would like with short term trades.  I made money on CSG but lost a bundle on the rest. 

 

The most important lesson I've learned is to invest for 2-3 years, not 2-3 weeks or months.  I hate losses but feel even worse selling a share after a quick profit only to watch the stock continue higher.  My number one rule has always been:  nobody ever lost money selling for a profit.  The downside  - I hate leaving a bigger profit for the next guy.  At the end of the day nobody gets it right all the time.  I want to get it right 80% of the time and short term trading minimises losses and also gains.

 

Still, I get enormous pleasure (and grief occasionally) from playing the market.  What other pastime enables you to invest money and you can great return?  Obviously Lotto, races, and beating on Wellington winning when Steve Walsh referees is a stupid bet but every week hundreds of thousands of Kiwis do it.

 

Anyway, another day tomorrow with another set of opportunities.  For me, stay out of the top 10, buy the mid-cap stocks.

 

Geoff