I can relate to everyone here - one th e WIN side and on the lose side. Yes TRV smart in this environment don't hold overnight. For me its was a tough call to do this.
Back in AUg with a terrible market if you can recall I was able to make about $40,000 k
I was averaging 10 k a week.
I got over confident.
I bought 114 CALLS of APPLE. For those of you that dont know options this is about equal to 14,000 shares. I think we all know what happened next. WHEN i SAY THE BOTTOM FELL OUT I MEAN THE BOTTOM FELL OUT. I took a 2 day lose of about $38,000. My system was working but i went outside of it. I made the 38,000 up in about 2 months and i was up about $16,000. I was happy I was made back the loss and had a profit of 16k. I decided change my system i didn't want to sit at the pc all day and trade in and out. so i decide to put all my money into something safe a "bell weather" as they say. I bought csco yhoo and a little eds (yhoo and eds more speculative buy) for longer term. I was now sitting on a bout 4 thousand shares of cisco and 1k of yhoo 1500 shares of eds. with stops in place.. Tues my csco was up 10 k - wed morning my 10 k was gone and i lost another 10k of my own $$ yhoo and eds did the same to me. My system changed i went to a buy and hold and got raped pretty bad. BTW I did have stops in place. My account took a really nice scud to it last week. I'm back to were i was on august..... So there again wHAT system works? well Im sure csco yhoo eds will hit all time highs again, im still holding some shares but lighted up a lot. I have been in the market 14 years I have never seen a market take 1200 swings every two weeks. like they say hind site is 20/20 the only way to make money is really go long and short at the same tiime buy the underling stock the also buy the PUT . I did follow this in the past but just not this week.. again I had to much faith in the "BELL WEATHER CSCO)
Back in AUg with a terrible market if you can recall I was able to make about $40,000 k
I was averaging 10 k a week.
I got over confident.
I bought 114 CALLS of APPLE. For those of you that dont know options this is about equal to 14,000 shares. I think we all know what happened next. WHEN i SAY THE BOTTOM FELL OUT I MEAN THE BOTTOM FELL OUT. I took a 2 day lose of about $38,000. My system was working but i went outside of it. I made the 38,000 up in about 2 months and i was up about $16,000. I was happy I was made back the loss and had a profit of 16k. I decided change my system i didn't want to sit at the pc all day and trade in and out. so i decide to put all my money into something safe a "bell weather" as they say. I bought csco yhoo and a little eds (yhoo and eds more speculative buy) for longer term. I was now sitting on a bout 4 thousand shares of cisco and 1k of yhoo 1500 shares of eds. with stops in place.. Tues my csco was up 10 k - wed morning my 10 k was gone and i lost another 10k of my own $$ yhoo and eds did the same to me. My system changed i went to a buy and hold and got raped pretty bad. BTW I did have stops in place. My account took a really nice scud to it last week. I'm back to were i was on august..... So there again wHAT system works? well Im sure csco yhoo eds will hit all time highs again, im still holding some shares but lighted up a lot. I have been in the market 14 years I have never seen a market take 1200 swings every two weeks. like they say hind site is 20/20 the only way to make money is really go long and short at the same tiime buy the underling stock the also buy the PUT . I did follow this in the past but just not this week.. again I had to much faith in the "BELL WEATHER CSCO)