Wednesday, February 4, 2009

Consequences of Deviating From Plan

I am trying to focus on gains in the very short term. Last Wednesday I bought SKF which shorts financial services stocks. Late yesterday my 100 shares were up around $1,800. Had I been sticking to plan I would have sold and taken the profit. But I thought it would go up further in the short term and didn't sell. When that didn't appear to be happening this morning I sold at a profit of $811.12 (6.1% return in 5 trading days). Had I not deviated from my plan I would have done a lot better. However, I am focusing on being grateful for the profit I made and trying not to dwell on the higher profit that got away.

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