Post by
deisman03 on Aug 21, 2023 3:24pm
Stop Loss
My stop loss got taken out today.
Luckily I bought and sold twice alread this month.
I think I'm just going to sit on the cash for a while and let the smoke clear.
Speaking of smoke, I was emailing with an old friend that that likes to dabble in the markets.
He lives in a town called Scotch Creek in BC Canada, on the outskirts of town, on a small property with a lovely house, barn and several animals.
Last week they go the orders from the fire marshall in their area to evacuate.
His family loaded up the motor home, livestock trailers and a tractor/trailer truck full of hay/grain and headed out to his brother's farm in central Saskatchewan.
We often discuss gut feelings about the markets but the only vehicle we both play is BK.
He sold off everything this morning around 12.63, just after my stop loss kicked me out.
I had an earlier stop loss in at 12.90 but it got blown through without a taker. I ended up getting taken out at 12.65. I CAN LIVE WITH IT and relax.
Did I panic????Maybe. Maybe not.
Investing for folks like us, slightly sophisticated retail investors, is a whole different ball game than for wholesale investors or ''some professionals'' who have many more sources of information as well as many more eyes and ears on a broad range of the markets.
Sometimes you just have to follow your gut and drop the greed, so what if you're wrong once in awhile???
Even the biggest movers and shakers make mistakes, some of which would be catastrophic to you and I.
If you're winning every time, you either have an inside track or have been extremely lucky.
Look at it this way, If you've managed to keep the level of your capital base ahead of inflation, made it through the year with more money than you started, that's a pretty good year.
WE GET THE LEFTOVERS and as I once quoted are "THE GRIST FOR THE MILL'' of the markets.
GLTA the good folks here.