Timely Execution Is Critical - Voice of the People
Zacks highlights commentary from People and Picks Member
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Except for a Flash Crash Timely Execution is Critical.
Wyatt Earp was not even close to being the fastest gun in the West but he executed flawlessly. I know I'm nearly helpless during a flash crash within seconds thousands of dollars are gone out of my account. Over a longer time, stretches like during the fall of 2008, I was afraid to look at my 401k like others were. That was a very costly mistake.
I'm a much more active trader now and I know losses will come but quick action can reduce the damage. There were a few days during 2011 that within hour's major damage was done to my account because of events in Europe or an earthquake. I'm retired but sometimes I work as a consultant which means working in the "field" away from my computer.
I took some defensive action this year and became mobile. I'm not good with phones they are too small for me. I bought an IPAD with wireless capabilities. There are other ways to be connected but the most important thing is: more damage is done by doing nothing than making the wrong stock picks.
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