Originally Posted by Drewett27
Wow! That makes a pretty good argument for longer term investing. I'm not much on fundamentals with the bios but this makes me think i better start looking into them a bit more.
I think there can be an argument made for long term bio investing, but the biggest problem is that it is not easily apparent what bios are truly undervalued, and what is crap. I think, however, if someone has a solid bio background, then they can do enough DD have a good chance at figuring out the difference.
I've been absent for a while (at least posting-wise) because I have started to realize that I am a better intermediate-term trader than I am straight-up daytrader.
In addition to coming to this realization, I also realized that daytrading was taking up way too much of my time. I think there can come a point where it goes past being a hobby, to something of an all-consuming black-hole.
I think that once you throw enough time at something, then the law of diminishing returns starts kicking in. The first 1000 hours you learn about trading you learn a ton. Less so from hour #5000 to #6000. Even less from hour #9000 to #10000. I don't claim to have learned everything about trading biotech stocks, but I feel comfortable with the practical trading experience I have, and I would rather go out and spend some of the money I made rather than sit inside staring at a screen.
This was one of the toughest things I had to overcome as a trader... essentially, it is having trust in your trades and being comfortable letting them play out on their own.
Anyway, enough rambling.