Are you a Long or a Short? Stocks that is.

Long or short?  What do you mean, you ask?

When you buy stocks you have to figure if you are the type to make a quick profit (within a few days or a couple of months) or if you want a nice stable stock that pays you decent dividends and you hold them for years.

I figure I am both - in the past year of trading I see myself as more of a shorter term player.   I love choosing stocks like apple or financials to buy and make a few hundred dollars as they have such high trading volume.  But the problem with that is you have to have a good cash flow and we usually don't.

My husband tends to be the longer term - so I think we balance each other out well.  As he calms my "trigger" finger and I let him see how we can quickly make a few.  Granted that quick few can go to losses also.  So always see what the analysis say.  A great website is Americanbulls.com.  It is a great way to see where your stock is heading.

The larger questions is always - when to sell your stocks.   Decide on a price in your mind - be it $ or %.  Most people will tell you if you make between 7-15% return on a stock that is fantastic, but sometimes when you are in lower dollar stocks that only comes out to be a $100 or so.  Plus you have to remember to deduct your commission fees from that.  So sometimes it is better to hold a stock longer than you planned.

You have to think of what you are willing to lose.  Of course, none of us want to lose anything, but be wise.  If you are not comfortable with it... don't do it.  What works for some, may not work for you.

For now I am watching my apple stock (bought at $312.80).  It has hit a year high of $321.30 and with the dollar on par you can make a nice profit.

It has been an interesting week with all that has been going on the US.  The markets seem to be holding nicely.  Though today is more of a red day than late.

***I have a question to those that read... Are you more interested in the family life or financial life(more infor)? or both?

I have been indecisive on which direction I should be taking this blog.  That is why my posts seem to be inconsistent.  I am never sure what I should write about.

Anyways, I hope all of you have opened up your own Tax Free Savings Accounts (TFSA) if you have taken anything from this blog.