Rookie of the Content (ROTC)
"I don't see how rookies (with all the support required) can end in the top-10, but they do."
That's easy, we get all the support we need right here from VMC members.
I think it should be pointed out that just because a person has not entered the contest before doesn't mean they are new to the board. For example, although I have not posted much, I came over from Raging Bull like many others.
This was the first time I considered entering. I did so because I thought it might help me learn to focus on maximizing a return over a limited period of time. In the past I have bought and held on to stocks for much too long because they never realized my perception of their potential. I knew from watching guys like HWEB who are quick to take a profit that this was something I have to get better at.
My goal for the contest was to try and finish in the top 25. Since I did not have much time to research a lot of new stocks, I stuck with the mining sector for most of my picks. I thought in order to finish in the top 25 I could not afford to have any losers. The base metals seemed a natural. I also thought I needed the help of a couple of flyers to maximize the overall return.
I relied on the input of the board to narrow the flyers I would look at. I picked two I thought had potential. As it turned out, one of them turned out to be a loser, so early on in the contest, I traded for a moving flyer.
Since entering the contest, I have been much more willing to trade out of a stock to take on new holdings that show more promise after the original holding has moved up some but not to it's full potential. I like one of the VMC poster's thought process about when to sell. Something like... if you didn't own the stock now, would you buy it? If not, it's time to sell.
The board has so much to offer in terms of experience and knowledge. I am so glad that people are so willing to share.
Anyways, now that I have been so long winded, I'll just wrap it up by saying I'm looking forward to PSL6. I doubt I will finish in the top 5 again but it will be fun to try.
Have fun!
JFF7
It's better to be out wishing you were in than in wishing you were out.
"Markets can remain irrational longer than you can remain solvent". - John Maynard Keynes
