Getting crushed recently. Forced myself to close out a few positions and no longer hoping for best, they are behind me now. Just have to visit them one more time, when I update profitly. Gonna hurt and will be cussing to myself. But been a good time to reflect back on my strategy. Blaring need to develope better rules and then follow them. Been bailed out by great performing market and now that looks to slow. Must play for singles and not get greedy. Must also recognize when trade is not working and keep losses small. Come to terms my win % will go down but account size will be growing. Need to get over the 25K mark so I can close positions daily and keep money better protected for downturns like now. Limit my risk by limiting the number of time money is in trade. Hopefully by end of next quarter i will be there.
OH account- closed position on GALT-stock got a spike on some news from sector and became profitable for the first time in a long time. Had a beautiful breakout chart interday and lowered my order to get an execution. Tired of waiting on this one, this whole account needed a makeover, about half way there.
Added to my position in MINE. Had to do a market order because it was trading between .03 and .04. Been happy with this stock so far, but my position is terribly low. Need my cash to settle from recent sell offs. Will look to add if momentum stays positive and upside continues to look strong.
IB-Added to position on SPLI-trying to add to good positions and trades. I know there is a lot of support in this trade via twitter and lots of rookies. As long as I'm not the last man standing should be good trade. Now that day is over, can also feel free to sell when needed. Trying to implement rules, if it goes red any day I will sell my position.
Bought ICBU-had a good start to the day when I entered then fell apart. Not a proud bag holder here. Hoping it gains some support somewhere. Had a nice run up end of day yesterday and early today then nothing. Only partial fill at start but was not a problem to fill rest and had I been watching closer could have lowered my entry and in effect averaged down. Will have to let ride for a little-trades I need to avoid in future-hold and hope.
Bought ERBB-now in full with wolfpack following. Feel best about SPLI but none of the positions are oversized so I think I should be ok. They seem to know some PR are coming out, plan is to hold few days.
Sold AHII-this was a paid pump I bought into. I had bad timing and entered premarket when it had its first red day. Was dumping all day and tried to tell myself that is was just down a little when in reality was down large %. Terrible trade.
Sold OPXA-held on for a few days after volume dried up. Need to get out when volume is still there and not worry about leaving $ on the table. This was a failed breakout anyways and should have exited earlier. Typical loss for me.
sold NFEC-same story-kept waiting on news to hit and price slowly declining. No volume anymore and hard to exit. Finally took the loss and moving on. Past is the past.
Bought FCEL-breakout play late in day aka my usual gappa play. Was up around $60 at close hopefully it continues to run a little tomorrow morning. Is a sympathy play to PLUG which had a huge run up. Just looked at chart and FCEL touched $3/share. In around 2.75, nice run will need to lock in some profits early and let some ride further.
Thats it for today, I need to work on limiting the amount of positions I am in so I can track better. Also more disiplined in profit taking on gappa plays. Will sell part of position early tomorrow. Also prefer to be cash happy. Starting to see Tims point on this issue and why he can use such large positions.
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