Dave’s Trading Diary: If You Want To Be An Investor, You Have To Invest
Hi guys,
This week while meandering through the web, I stumbled across a quote:Â
“If you want to be a writer, you have to write”.
The quote really stuck with me, because I thought the idea was great and it applied to trading and investing as well - in fact ANY endeavour in life. You see – more often than not we just want the IDEA of things – for instance that promotion looks good, but when we actually get it it turns out to be hard work! Or that partner looks good, but maybe he or she is not suited to our personality once we get to know them. Â
Comsec even pointed it out in their new TV ad – “You are what you DO”. Not what you think about (although that is important) – you are the product of what you’ve done over the last year or five – for yourself and for others. And if you want to change who you are, you need to change what you DO on a regular basis. Â
Many people like the idea of being an investor, but not everyone likes the idea of doing research, of scanning reports or stock charts, of looking at the same stocks over and over, of having to watch your money leave your account on a losing trade or having to keep yourself under control on a winning trade. Being an investor isn’t hard work in the traditional sense of the word, but it’s not easy in the traditional sense either. I guess that’s why it will always have an aura of mystery and intrigue around it.
As I’ve just got back from holidays, there are no new trades for myself from last week. Both ANZ and RIV from the week where I picked the bottom of the market are doing nicely, and both have daily chart up trend lines now. An exit for these could be a close below the up trend line and the previous trough on a daily chart – depending on how the overall market is looking of course.
Happy trending!
Dave
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June 22, 2010
Tags: anz, ASX, Dave's Trading Diary, invest, RIV Posted in: Dave's Trading Diary
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