Feeling really sorry for myself today

D

DrEvil

Been holding PRTA for around a week and yesterday, just before the close I decided to lighten up my risk a little and get out of one of my stocks. PRTA had been going nowhere and so I went ahead and closed for a small profit.

F#!#er opened up around 25% and spiked up to around 50%. My other stocks didn't do much today!

Aaaaaaaaaaaaaaaaaaaaaaaargh
 
DrEvil said:
Been holding PRTA for around a week and yesterday, just before the close I decided to lighten up my risk a little and get out of one of my stocks. PRTA had been going nowhere and so I went ahead and closed for a small profit.

F#!#er opened up around 25% and spiked up to around 50%. My other stocks didn't do much today!

Aaaaaaaaaaaaaaaaaaaaaaaargh
More...

Welcome to Opportunity Risk. :)
 
Indeed! In all honesty though , I believe that I acted correctly in closing it. I won't be changing anything either.

Things could have been worse, against my better judgement I was tempted to get in on initial rally after open but thankfully had enough self control to realise what an absolutely irrational punt that would have been.
 
This stock hasn't exactly been on fire, tho. And waiting is always a problem when buying in a base, unless it pays dividends. Hence the opportunity risk (how long do I want to fool with this when I could be putting my money to better use elsewhere?).
 
Very true! It's true what they say though, not winning big $$$'s stings far less than losing big $$$'s. At least for me anyway.
 
DrEvil said:
Indeed! In all honesty though , I believe that I acted correctly in closing it. I won't be changing anything either.

Things could have been worse, against my better judgement I was tempted to get in on initial rally after open but thankfully had enough self control to realise what an absolutely irrational punt that would have been.
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===I believe that I acted correctly in closing it. ===

Only if the decision to close the position was based on your method, not on a whim, otherwise even opening of the position was not justified.

===I was tempted to get in on initial rally after open===

Again, if temptation was based on the method, you should of followed it (that is method ;)). The problem is - the way the method works often seems irrational, and that's when temptations kick-in.
 
It's understandable. This thing had been basing for 10 months. He was completely justified in expecting a "breakout" of more than four points. And then sitting there for a month+.
 
DrEvil said:
Been holding PRTA for around a week and yesterday, just before the close I decided to lighten up my risk a little and get out of one of my stocks. PRTA had been going nowhere and so I went ahead and closed for a small profit.

F#!#er opened up around 25% and spiked up to around 50%. My other stocks didn't do much today!

Aaaaaaaaaaaaaaaaaaaaaaaargh
More...

And why did you get out of this? OH Baby, I see that triple bottom, be jumping all over that with last higher bottom. When something not moving much, great stock to sell Put Credit spreads and/or covered calls.
 
Was the timing of the drug data unclear that you couldn't have known it was iminent or was it one of those "the longer it takes for the data to come out the less likely the drug is successful?" Or did you trade a symbol not knowing that there was a huge binary event?
 
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