Monday, November 22, 2004

Moving Sideways

Today was a normal day except I didn't make it the gym. We are so excited about the holiday week and we're being slackers!

I had to go into the office today and checked BigCharts.com a few times. At first the market was down (and so was GCO.) I write down the following information when I buy a stock to trade:
Purchase date
Purchase price
Sell price
Stop price

I had to open my day planner (where I keep the current trade info) and make sure I wasn't getting close to my stop price.

I ALWAYS sell if the stock I bought dips to 8% below its purchase price! Okay confession - once I didn't and I rode that loser down to the ground!

Thankfully the market started going up (and so did GCO.) I didn't hit my sell point but I didn't have to bail at a loss either.

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