#13 Play the Stock Market

My sister-in-law says that it is "time in the market, not timing the market" and she's probably right, but I sure am having a great time trying! I have been "day-ish trading" since Jan 2009 and so far I am up 85%. By no means am I an expert, but here are the strategies (if you want to called it that) I use:

• I put all the stocks that I currently hold and the ones the I am watching in the stock application on my Iphone. When the stock market is down (all my stocks will turn red on my Iphone) I buy and when it's up (they turn green), I sell. I know, you're saying..."duh"? But, I really believe that it is as simple as that.
  
• I try not be too greedy. As Warren Buffet has said, "I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over". I only try to make $100 on each stock trade and believe me there are many times when it has been hard to sell at the $100 mark without just wanting to take my chances at making more. But, in my head the words "don't get greedy" float around.
  
• When the market is down, I turn to Motley Fools to help me pick my stocks. I go to their Top Tens "Hot 5-Star Stocks" and choose something in my price range.
  
• I try not to complicate things. My stock vocabulary consists of: trade, limit, chart, stop loss and market. I don't get too involved in all of the rest of the lingo because I feel like it will just complicate the simple "buy low, sell high" strategy.
  
• Patience. I am patient, I wait for the market to go significantly down & significantly up. Sometimes this take 1 hour and sometimes 1 month...I wait.

Here's a the list of current stocks I am holding: DNN (Denison Mines Corp), CPE (Callon Petroleum Co.), WRES (Warren Resources Inc), SIRI (SIRIUS), CSE (CapitalSource Inc.), TGB (Taseko Mines)

I hope I can officially double my money by the end of the month! Watch out Warren!