rule # 1, stay away from market on boring day

Ten years ago, when I began my career as a professional trader, I was of the mistaken belief that I needed to be active in the market every day, or else I was being lazy and not doing my job. However, I eventually learned this was far from the truth. On the contrary, I discovered the most successful traders were actually out of the markets more than they were in the markets. Rather than being in the markets every day, I learned the most profitable traders laid low when nothing was going on, while being aggressive when trading conditions were ideal. My personal experience has proven this to be true. Over the course of my trading career, many of my biggest losing months have been the result of overtrading during low volume, choppy markets, not the result of suffering big losses in a bear market. Rather than adhering to our usual format of sharing individual trade setups we like, we thought new traders may appreciate this brief, yet very important psychology lesson. Similarly, experienced traders may appreciate a reminder on the dangers of overtrading when there's not much going on

17 Jan 2009, When news all doom and gloom

I have the feeling. Very bad. Stocks crashed, Banks losing billions, and traders cash in all their stocks position.

I am trying to be different, against it. I decided to go in again to buy CITIBANK with some of my money again. This is the 4'th times trading Citibank this week, and all profitable.

This time I go Long with Citibank, and few other stocks.

I have a can of beer, seeing all stocks sinking, and sleep.

I say good bye to my money, where there are many say good bye to stocks.

Today 17 Jan 2009, and citibank traded at 3 - 4 dollar.