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Expanding My Repertoire
Posted on 05/02/2007 10:30:09 | Link | Post Comment
Due to some kind of inspiration, I've decided to include stocks again in my trading life, just for a little variety. I still have my stock trading account open, and I have about $1,500 in there doing nothing.
This blog is called Simon Super Trader, not Simon Super Forex Trader. Maybe one day I'll be trading futures and options - anything is possible! Besides, for interests sake I want to see if I can do any better in that market M0M (percentage wise). I will compare my forex trading results to my stock market trading results.
I will only buy one carefully picked stock at a time, because I recall reading somewhere that (despite widely held popular delusions) diversification does not in fact necessarily lesson volatility or prove to be always more profitable. This struck me as obvious. Insane if you are a buy & hold type, but a trader with stops who watches the trend would get out when things started to go south. Especially when you factor in the bigger commission costs of getting in and out. Riding the trend of one carefully picked good performing stock can easily blitz a balanced portfolio of average performing stocks. I'm starting to see that a lot of the common knowledge handed out to the Mum & Dad investor types is just pure chicken feed.
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