Okay, so I was long 38 shares of XOM and 1 share of WMT. I assumed that owning the Fortune #2's in some way would be good, and that their stock would go up, up, (occasionally down) but mostly up. This was sadly the extent of my strategy.
Eventually I got over my anxiety, and let the market do its thing, up/down or flat-linning. This part was a huge pyschological barrier. I decided to accpet the fact that I was going to hang onto these shares (at least XOM) for a long time, perhaps several years.
Still, I entered the trade unprepared mentally, and most critically without any kind of stragtegy--Entrance, Exits, Stops, Limits. I have learned and to my best, have tried to adhere to this policy to never execute an order without a damn good idea of what you want to do, what you expect to see, and a backup plan for when you fail to see your first plan materialize.
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