Thursday, October 18, 2012

The Daily Note - $GOOG The Courage to Continue

*****Much will bewritten about $GOOG Google earnings leak today so pardon me for adding to the mix. I'm hoping that I may help by being somewhat philosophical about the day and the markets.

I doubt if the results would be any different if the earnings came out at their due time; in fact I believe that the next day may have been much worse due to the likely gap at open. This way, much of it was alleviated save for the halt which was inevitable with this rapid drop.

The rules about trading don't change but many will learn about keeping them as a result of today's dip on the market. So the good thing is that we learn, the bad thing is if we don't. Of what I speak, once again, is keeping stops real and not imaginary. Those who keep mental stops may not look at the the progress of a stock at the right moment but even if they do, the reaction time takes much away from result. Therefore a real stop, or entered stop, will be the life saver at such events. Your attention will be there soon enough to see some of your gains kept or losses kept to a minimum. In trading you cannot be more accurate than that. Which is really the lesson for today.

I did not post any earnings plays today because of the nature of today's GOOG results, and the nature of the way it happened. Any earnings announced post market may be met in an unrealistic way, not worth the gamble. Most people are unreadable in a "panic" mode and since most traders are people, I'll keep my hands away from trading platform. My stops and triggers have been set and played for today. Tomorrow is another day and the courage to move on will forever be the key to trading success and living life passionately.

Because of the nature of my PlayList reporting and GOOG results for today, I will open my subscriber PlayList for week #143 for all to see. Subscribers can play the list any way they wish the results are posted to the maximum possible with any trade when the rules are kept. Each day presumes cash out at end of day unless overnight (o/n) keep is posted (very rare).

I hope today's lesson will help all traders in some way to become better. As to how you feel about today, I see no better philosophy than that said by Winston Churchill "Success is not final, failure is not fatal; it is the courage to continue that counts." I wish you all the courage to continue.

Courage by Manowar on Grooveshark
Happy Trading, Living and Dancing
 The Daily Pick - PlayList Week#143  ©DayTrading with Anni 2012 All Rights Reserved -->

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