Profiting From Meltowns…Have a Plan

Posted by Howard
on August 16th, 2007

One of the best/worst things about a blog is the archive and tagging features.

It’s easy to look back and see what you were thinking and what you were planning.

A few days ago I laid out a quick plan and thought process for the market . I thought we needed a quick 600 point drop in the Dow (5 percent woosh). It happened much quicker than I thought, but I was prepared going into the selloff and had my plan for the ‘what if’.

A plan does not always work out so well, but over time, plans make you a better more focused trader and operator.

If you invest, you should keep a journal or start a blog. It does not matter if anyone reads it, but I guarantee it will improve your thinking at the very least and likely, your trading.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.