Comments on: 8 reasons why you are losing money on the stock market http://www.thefinancialblogger.com/8-reasons-why-you-are-losing-money-on-the-stock-market/ This is where your finance takes place Mon, 08 Sep 2008 04:10:04 +0000 http://wordpress.org/?v=2.6.1 By: The Financial Blogger http://www.thefinancialblogger.com/8-reasons-why-you-are-losing-money-on-the-stock-market/#comment-709 The Financial Blogger Thu, 04 Oct 2007 22:07:04 +0000 http://www.thefinancialblogger.com/8-reasons-why-you-are-losing-money-on-the-stock-market/#comment-709 FT, I've been pretty busy this week. Between the MBA projects and my newborn baby, my boss managed to send me on training for 2 days this week. This is why I didn't have access to my computer as I usually do. I also celebrated too much with some friends yesterday night, I'm kind of dizzy today! #4 is definitely my biggest flaw! I need to learn to control myself when I'm making big bucks. I guess my poor -5% for this current year will call me down! TMW, Mr. Cheap, Gates, thx for your good words :-D FT, I’ve been pretty busy this week. Between the MBA projects and my newborn baby, my boss managed to send me on training for 2 days this week. This is why I didn’t have access to my computer as I usually do. I also celebrated too much with some friends yesterday night, I’m kind of dizzy today!

#4 is definitely my biggest flaw! I need to learn to control myself when I’m making big bucks. I guess my poor -5% for this current year will call me down!

TMW, Mr. Cheap, Gates, thx for your good words :-D

]]> By: Gates VP http://www.thefinancialblogger.com/8-reasons-why-you-are-losing-money-on-the-stock-market/#comment-707 Gates VP Thu, 04 Oct 2007 19:07:33 +0000 http://www.thefinancialblogger.com/8-reasons-why-you-are-losing-money-on-the-stock-market/#comment-707 One of my favorite articles of late is on the Digerati life: <a href="http://www.thedigeratilife.com/blog/index.php/2007/08/06/top-10-wealth-building-ways-of-people-ive-met/" rel="nofollow">Top 10 Wealth Building Ways of Ordinary People</a> If you look at #3, she says that a stock market trader's main asset is <i>genius</i>. Of course, I figure that's totally bogus and I wrote that the main asset was actually discipline. My step-father was a "broker" for 20 years and we talked about every one of these points, multiple times. Here's how I put it on the Digerati Life: <i>The secret that most Traders don’t share or that isn’t discussed, is that they’re wrong, a lot. The wealthy traders don’t bat .900, it just looks like they do, b/c they know how to cut their losses. The top traders are batting like .600 it’s just that they ride their victories more than their losses.</i> When my step-father moved in to manage his own hedge fund (only the second in Manitoba), he spoke of the "batting average" pretty regularly. Part of the reason for starting the fund was that he was sick of trying to explain to his regulars that it was time to sell or time to cash in victories. They would give all of the reasons above for not moving and then they would lose money. I've bookmarked this post for future reference, thanks for the gem :) One of my favorite articles of late is on the Digerati life: Top 10 Wealth Building Ways of Ordinary People

If you look at #3, she says that a stock market trader’s main asset is genius. Of course, I figure that’s totally bogus and I wrote that the main asset was actually discipline. My step-father was a “broker” for 20 years and we talked about every one of these points, multiple times. Here’s how I put it on the Digerati Life:

The secret that most Traders don’t share or that isn’t discussed, is that they’re wrong, a lot. The wealthy traders don’t bat .900, it just looks like they do, b/c they know how to cut their losses. The top traders are batting like .600 it’s just that they ride their victories more than their losses.

When my step-father moved in to manage his own hedge fund (only the second in Manitoba), he spoke of the “batting average” pretty regularly. Part of the reason for starting the fund was that he was sick of trying to explain to his regulars that it was time to sell or time to cash in victories. They would give all of the reasons above for not moving and then they would lose money.

I’ve bookmarked this post for future reference, thanks for the gem :)

]]> By: Mr. Cheap http://www.thefinancialblogger.com/8-reasons-why-you-are-losing-money-on-the-stock-market/#comment-705 Mr. Cheap Thu, 04 Oct 2007 17:19:58 +0000 http://www.thefinancialblogger.com/8-reasons-why-you-are-losing-money-on-the-stock-market/#comment-705 Great post. I definitely fell into #8 during the dot-com boom. My justification was that I worked in technology, so I had every right to buy tech stock (whereas everyone else was just being greedy speculators). Turned out I was just a greedy speculator too (who, if I had actually understood the industry I was working in, should have known better). Great post. I definitely fell into #8 during the dot-com boom. My justification was that I worked in technology, so I had every right to buy tech stock (whereas everyone else was just being greedy speculators). Turned out I was just a greedy speculator too (who, if I had actually understood the industry I was working in, should have known better).

]]> By: ThickenMyWallet http://www.thefinancialblogger.com/8-reasons-why-you-are-losing-money-on-the-stock-market/#comment-704 ThickenMyWallet Thu, 04 Oct 2007 16:19:04 +0000 http://www.thefinancialblogger.com/8-reasons-why-you-are-losing-money-on-the-stock-market/#comment-704 I think #5 is probably the most common mistake because a lot of advisors push the flavour of the month and then tell their clients to move money out when its no longer the flavour of the month to the new trend. I think #5 is probably the most common mistake because a lot of advisors push the flavour of the month and then tell their clients to move money out when its no longer the flavour of the month to the new trend.

]]> By: MillionDollarJourney http://www.thefinancialblogger.com/8-reasons-why-you-are-losing-money-on-the-stock-market/#comment-701 MillionDollarJourney Thu, 04 Oct 2007 11:59:49 +0000 http://www.thefinancialblogger.com/8-reasons-why-you-are-losing-money-on-the-stock-market/#comment-701 Good post FB! Where have you been lately? You're usually very active commenting on other blogs. Good post FB! Where have you been lately? You’re usually very active commenting on other blogs.

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