No one likes to admit to losing money, you're right. Good poker players still lose hands, and good traders make bad trades. The key though, is when you lose, to cut your losses. When you win, make them count.
I certain didn't predict this drop. Then again, I was out of HK last month. I traded in Europe for the last few weeks. I lost money this week, underestimating the effect of Greece.
But one thing I do know, is that this drop is a buying opportunity. And you're right, I can't predict the bottom. But I can choose an oversold stock I know will rebound, buy it when it's down to a major support level, and hope for the best. And I've done alright with my strategy. I make a fairly decent return and can sleep at night.
I certain didn't predict this drop. Then again, I was out of HK last month. I traded in Europe for the last few weeks. I lost money this week, underestimating the effect of Greece.
But one thing I do know, is that this drop is a buying opportunity. And you're right, I can't predict the bottom. But I can choose an oversold stock I know will rebound, buy it when it's down to a major support level, and hope for the best. And I've done alright with my strategy. I make a fairly decent return and can sleep at night.
And I do like hyperbole :-)