Double To A Million - Step 19 - When in Doubt Get Out

How To Double Your Way To A Million In 28 StepsThe Official Blog for the "My One Million Friends" Website
I placed another trade and made 1.91509% on it. I would consider that pretty good but I was unable to remain in the trade for today and exited yesterday. I was very uncertain how today would go and was not able to hold on to find out. In a way it was better to exit the trade because of the philosophy "When in doubt, get out".

I felt a tremendous amount of pressure, buyers and sellers, locked in conflict and I could not discern which way this was going to go. Originally when I got in the trade I felt that the markets would decline so I shorted. I was up over 3% for a couple days but yesterday it reversed a little, nothing much, but a huge struggle began to take place.

I decided to get out at the end of the day with what profit I had, knowing I could potentially lose a lot of possible profit. But again not being certain I bailed instead of holding on. Today the markets crashed and already my trade would have been more profitable by 8.175%. Add that to the 1.92% and it would have been over 10%. I would have really liked that. Sigh.

Yesterday I just could not get a clear direction on the market. I still felt it was down but the buyers put up a fierce battle. I just could not stick with my earlier convictions. I felt it was one of two things, either the pressure I felt was the buyers and sellers battling and it would give up the ghost or I was in wrong and was going to take a loss the next day. I decided since I could not decipher what was going on I would exercise caution and get out.

I did gain a few insights into my self from all of this and a more clearer plan of action.

DTAMP Equities Plan Report:

(DMF = DTAMP Mutual Fund (various) )

08/29/08 - Buy - 146.860 shares of DMF @ $9.92 p/s - Total $1456.85
09/03/08 - Sold - 146.860 shares of DMF@ $10.11 p/s - Total $1484.75
Total ($27.90) - ($0.00) Fees = ($27.90)Net Gain of (+1.91509)% in the Amount of ($27.90)

(This particular mutual fund rises when the market is declining.)

I hope to get to the point where I will be able to do 5% to 6% a month with compounded funds.

In starting over, since those last large losses (back on August 4th) the trading is up 5.45%

Present Stake: $1510.77

Motto: It is only "one" found penny.
Slogan: As Simple As Finding A Penny.

Regards,

Xinfinitum


This Doubling Blog is based upon the Doubling Plan "How to Double Your Way to a £Million in 28 Steps". It is an attempt to "Double Your Way to a Million" by going from one penny to one million dollars, starting from nothing. At the beginning you start by finding a penny and then double a penny until reaching $1,000,000.

How to Double Your Way to a Million in 28 Steps
D.T.A.M.P. - Double To A Million Plan
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