Home > Lessons from the trading floor > $Debbie: Is it really worth going outside your basket to find “opportunity”?

$Debbie: Is it really worth going outside your basket to find “opportunity”?

Just a quick thought. As a trader who focuses on 4 stocks from 2 sectors, it is always tempting to search outside my “basket” when my four stocks don’t seem to be doing much. Given the opportunity, I have done this.

I aksed myself a question after looking at my P/L reports. Is it worth it to look outside my stock focus?

My answer, at this time, would have to be no. Trading a stock that I don’t know is prolematic for where I am as a developing trader right now. I realized that I don’t have the confidence to trade an unfamiliar stock, even though it may be trending, and as a result it does me litte “favors” as far as P/L.

As a result, Debbie is choosing to not search out opportunity, at this time, in stocks outside her focus.

As traders we need to know ourselves and where we are in our development in order to progress and experience success.

Profitable trading all!

Debbie

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: