Now

How did you enjoy your bloodbath last Friday? I certainly had the time of my life! Please note my sarcasm. (Haha!) See, I bought AGI last Thursday. The setup looked promising. AGI fell for the third day last Wednesday then formed a potential bullish inside day pattern (with volume) the next day. That was the time I bought. Unfortunately, that formation failed and I was only able to get a third of my position out. Again, I just posted and posted, thinking AGI should rally one way or another. It did rally, but it was very shallow. The culprit: DBP Daiwa! Tsk tsk. They were selling across the board. Naturally, others followed suit that further deepened the correction.

Last Friday was a selling day for me. I sold EDC, CHIB and some remainder shares of VLL and BEL. I realized that I'm still slow in taking losses. Because of this, my recent losses ate up a huge chunk of my recent profits. I'm fast to take profits but I'm slow to cut losses. That's just wrong! I'm currently reading a book called Market Wizards by Jack Schwager. It's basically a collection of interviews with top traders. One of the people interviewed was Marty Schwartz. He said, "Learn to take losses. The most important thing in making money is to not let your losses get out of hand." 

I think I'm ready to take that break I keep on delaying. Besides, I think I'm really gonna have to because over the weekend, I developed a fever. Today, I'm still lightheaded. My ever supportive dad told me to rest for a week! Haha! It's now or never.