Galaxion's Blog

This blog is about Galaxion settling into this website. It should soon be about Galaxion's portfolio and musings. Happy trading, everybody!

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2008 July 3, Ouch

Tags: drawdown stops Tharp ouch rebuilding 2008
23 Jul 11:53pm
Posted by Galaxion
0 Comments
Through the end of June, I was way up for the year.The morning of July 3, though, took nearly all of that profit away.  One stock after another dropped 30% in a matter of minutes (look at charts for coal companies, for examples).  I sold everything that hit its no-excuses stop limit, and a good thing too because the crunch continued on the next trading day.By the next week, I owned almost nothing and my profits were back to where they'd been in February.Ouch.It was my biggest draw-do...
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No Aversion: Reversing some wisdom

Tags: philosophy contrarian aversion
8 Jun 1:47am
Posted by Galaxion
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An old and wise adage is "Don't fall in love with a stock."This could be extended in a reverse sense; "Don't hold a grudge against a stock."After opening a trade a few days ago, I was editing my notebook and found that I'd traded that stock last quarter.  I had good reason to close that trade when I did, but that was ancient history and not relevant to my new trade.  The chart met my criteria, so it made sense to buy the stock again.
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weirdness, part 2

5 Jun 2:25pm
Posted by Galaxion
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The previously broken link to blog entries no longer lead to a customized '404 - not found' page, but they don't lead to blog pages on this site, either.  They all seem to go to external sites.Meanwhile, the trading queue is speeding up!And firefox no longer connects to this site.  Sorry - it connects, it just cannot log in, only visit as 'guest'.Part 3: find the link to "rankings", find the #1 winner of forecasts, check his profile, it says he's made no forecasts.  His latest blog entry is fr...
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Required Reading

Tags: books background
2 Jun 6:09am
Posted by Galaxion
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The first chapter of de Soto's "Miracle of Capital" -- the best description of making capital perform more than one function at a time."Baseball Inside the Numbers" -- Builds an appreciation of the power of accumulation of small advantages.Tharp's "Trading Your Way to Financial Independence", 2007 ed., -- Turns a mirror in front of the psychology of trading.  Taught me how to quit losing capital.
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About

Galaxion

Website newbie on board. Trader, scientist, artist. More details will follow if I settle-in here. I'm a bit leery of the emphasis on predictions. I try to keep mine to a minimum: prices will rise and fall, a lot of my trades will go wrong, enough of my trades will go well enough to overcome the setbacks and drawdowns of the ones that don't. I'll never know everything that the market knows and I have better things to do than to try to out-think the market. To each their own, though.

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