Lost 100K in one month, 50% wiped out, start to write journal
- Thread starter lost100k
- Start date
My current position
AIG 700 13.58 9506
MBHI 14000 0.68 9520
AMFI 16000 0.68 10880
ADVNB 25000 0.36 9000
CRBC 15584 0.57 8883
CNB 16798 0.56 9407
RAS 8000 1.12 8960
66156 0.73 (Leverage Long)
DYAX -1000 2.88 -2880
OSK -200 21.45 -4290
PALM -200 15.28 -3056
TRW -200 11.28 -2256
IVN -600 8.2 -4920
-17402 0.19 (Leverage Short)
Net Value 90329 0.93 (Leverage Total)
I plan to close RAS today, want to reduce the long position to 50%
Also short 200 IVN, short 100 OSK
short 1000 DYAX, short 1000 DDSS,
short 1000 SCLN, add more short position to 50%
AIG 700 13.58 9506
MBHI 14000 0.68 9520
AMFI 16000 0.68 10880
ADVNB 25000 0.36 9000
CRBC 15584 0.57 8883
CNB 16798 0.56 9407
RAS 8000 1.12 8960
66156 0.73 (Leverage Long)
DYAX -1000 2.88 -2880
OSK -200 21.45 -4290
PALM -200 15.28 -3056
TRW -200 11.28 -2256
IVN -600 8.2 -4920
-17402 0.19 (Leverage Short)
Net Value 90329 0.93 (Leverage Total)
I plan to close RAS today, want to reduce the long position to 50%
Also short 200 IVN, short 100 OSK
short 1000 DYAX, short 1000 DDSS,
short 1000 SCLN, add more short position to 50%
My today's position after close. Down from 90329 to 89092, -1.37%
AIG 600 13.1 7860
MBHI 12000 0.68 8160
AMFI 12000 0.67 8040
ADVNB 22000 0.32 7040
CRBC 14000 0.59 8260
CNB 16798 0.52 8735
48095 0.54 (Leverage Long)
DYAX -3000 2.82 -8460
OSK -300 20.9 -6270
PALM -400 14.89 -5956
TRW -600 11.13 -6678
IVN -800 7.63 -6104
DDSS -3000 2.43 -7290
-40758 0.46 (Leverage Short)
Net Value 89092 1.00 (Leverage Total)
AIG 600 13.1 7860
MBHI 12000 0.68 8160
AMFI 12000 0.67 8040
ADVNB 22000 0.32 7040
CRBC 14000 0.59 8260
CNB 16798 0.52 8735
48095 0.54 (Leverage Long)
DYAX -3000 2.82 -8460
OSK -300 20.9 -6270
PALM -400 14.89 -5956
TRW -600 11.13 -6678
IVN -800 7.63 -6104
DDSS -3000 2.43 -7290
-40758 0.46 (Leverage Short)
Net Value 89092 1.00 (Leverage Total)
stock certificates are as good as toilet paper in this climate... but atleast toilet paper will be gentler on your ass.
seriously.. the equity ponzi scheme has come to an end...
seriously.. the equity ponzi scheme has come to an end...
Here is some help:
I think you are trading too many things.
Find 5 stocks or ETFs that provide decent daily/weekly ranges, and have reasonable spreads and high liquidity.
Study their charts in several time frames: 52-week, 6-month, 3-month, 3-day and intraday (down to the 5-min level).
Know the major and minor support & resistance levels by heart.
Know where price is in relation to the 200-day, 50-day and 20-day moving averages.
Before putting on the trade, note why you are putting on the trade, the price at which the trade setup would be proved no longer valid, and an initial target price.
The price that would invalidate the trade is your stop loss.
Choose a position size so that if the stop loss is hit, you do not risk more than 1% of your trading account (less risk is actually better).
Make sure your initial target gives you a profit of at least 1.5 times your stop loss.
NEVER move a stop except in your favor.
That's a start.
I think you are trading too many things.
Find 5 stocks or ETFs that provide decent daily/weekly ranges, and have reasonable spreads and high liquidity.
Study their charts in several time frames: 52-week, 6-month, 3-month, 3-day and intraday (down to the 5-min level).
Know the major and minor support & resistance levels by heart.
Know where price is in relation to the 200-day, 50-day and 20-day moving averages.
Before putting on the trade, note why you are putting on the trade, the price at which the trade setup would be proved no longer valid, and an initial target price.
The price that would invalidate the trade is your stop loss.
Choose a position size so that if the stop loss is hit, you do not risk more than 1% of your trading account (less risk is actually better).
Make sure your initial target gives you a profit of at least 1.5 times your stop loss.
NEVER move a stop except in your favor.
That's a start.
Very sound advice from NoDoji.
And learn to take losses, starting now. It's all part of the game. To hold stocks hoping they come back is NOT a strategy. Punt your current positions; that will serve the purpose of getting your head out of the grinder. Then do some fundamental/technical work and put long/short positions on with targets/stops. Rinse, Repeat.