- Some choose golf. I spend my weekend trying to come up with a trading plan. I sift through all the economic data, and market price action.
- Play the market, you will get played. What I mean by that is many of us love to just buy stocks, especially new names. Understand what you are buying.
- Please consider that by the time a name is filtered through the typical financial media, that it may already be overbought.
- The stock you are selling because it's gone up, and to buy this shiny new name you've been hearing about may be the worst move. Stocks that are breaking out to new highs tend to keep going up.
- I'm attempting to formalize my process to prevent over-trading. I use both charting and fundamentals to try and surface the message of the market, then create a plan and try to stick with it.
For further details see:
Mixed Economic Data Make For A Volatile Market: Here's My Trading Plan For The Week