Libya Crisis: Best Trades Ever!

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24 Responses

  1. Buck, you must stay inspired! I just finished my taxes, and although my winners outdid my losers, I still had several positions where I lost about 30% of the original investment. Sometimes your emotions get to you. I always tell myself a 10% loss is where I cut it off, but I have a hard time doing it in practice. That is my goal for this year, and the College Investor portfolio helps with that because I hold myself accountable to my readers!

  2. MoneyCone says:

    Never buy or sell based on market direction (unless you are speculating, which I confess, I do from time to time!). But do so based on your evaluation of a stock.

    I actually look forward to market corrections like the most recent flash crash, when I hoard up on select stocks!

    But keeping emotions in check is a great step forward! Swimming against the tide is even harder to conquer!

  3. krantcents says:

    Stick with the basics! Dollar cost averaging and asset allocation. Although I own stocks, mutual funds and ETFs, most of my portfolio is in mutual funds and broadly diversified. What this means is I am mostly removed from the highs and lows. My goal is steady growth.

    • Buck Inspire says:

      Great advice! I agree. I wish I removed the highs and lows earlier. I think it’s human nature. Wanting a good price, greed, who knows. Buy low, sell high ends up buy high, sell low, real fast! :) Do you have a favorite investor?

  4. Hi Buck – first of all thanks for the link and including me in such illustrious company ( Flattery works every time, keep it coming.)
    Although it’s easy for me to say that emotions will absolutely slay you, it’s a little harder to resist in practice. If the market were to take a swoon tomorrow, I’d have to do something like reading affirmations or reciting mantras to calm my fluttering heart, and reminding myself what a great buying opportunity it would be. Time to swing plan B for Buy into action.
    If it’s a good value at 20, it’s a screaming bargain at 10.

    • Buck Inspire says:

      Flattery makes the world go round. :) Good point, easier said than done. I think putting it down on paper and being accountable helps. Short term memory and excuses in my head wipes out many trading lessons along the way. In doing this, I hope to remind myself to stay the course and hopefully improve along the way. Another good point about bargains. Sometimes it’s hard, even though it seems obvious later, when the whole world is screaming we’re doomed! Do you have a favorite investor?

  5. Buck, don’t try market timing the short term moves. It doesn’t work and you will burn your nerves. Write down why you invested in a company you picked with your exit target and remind yourself of these notes every time emotions creep back into you.

    Thanks for the mention!

  6. My best investment advice is do not invest in anything other than index stocks unless you really know what you are doing. My second best piece of investment advice is to not allow your dog to “choose” your stocks for you.

  7. I’m great with managing money I earn, but I’ll be the first to admit it…

    I. Suck. At investing!

    I hope to learn from you guys who seem to know what you’re doing!

  8. Buck,
    Congratulation on being free from the emotional roller coaster! I think that’s really the first sign of a mature investor. :D
    I sold some stocks over the last few weeks, but not because of the unrest. I’m beefing up my cash position for my 4 plex down payment.

  9. Emotions will mess up good trades and bad trades! Good job staying in control. I blew my entire first forex trading account based on fear and greed. Once I conquered my emotions I started trading better. I recently made 34% return on the Euro in just one month. I’d rather lose a trade because I made a bad trading decision than lose a trade because I lost my cool.

  1. March 1, 2011

    Libya Crisis: Best Trades Ever! – Buck Inspire…

    Here at World Spinner we are debating the same thing……

  2. March 9, 2011

    [...] Inspire presents Libya Crisis: Best Trades Ever! during Buck [...]

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