My Litany Of Mistakes - Leaving FAT $$$ on the Table

B

ByLoSellHi

I am up about 33% since June.

However, I could have done much, much better had I not been so active.

Here are examples of big $$$ I left on the table.

EMS - Bought @ $12.61 - Sold @ $14.20

It is currently at $17.86


GT - Bought @ $10.99 - Sold @ $13.59

It is currently at $17.39


BKC - Bought @ $13.01 - Sold @ $13.75

It is currently at $19

RCKY - Bought @ $10.98 - Sold @ $11.21

It is currently at $14.35


Dow - Bought @ $33.80 - Sold @ $36.60

It is currently at $39.91


AET - Bought @ $31.97 - Sold @ $39.27


It is currently at $42.20


VPHM - Bought @ $9.64 - Sold @ $12.12


It is currently at $15.30




ARRRGGGGHHHH!!!!!!!!!!!


Moral of story - Let your winners run.
 
Do you have specific critiera for closing a position?

If so, just move on to the next trade.

If not, keep working at until you find something that you can live with psychologically.

Keeping solid records and a diary are a good place to start, because eventually you're going to see the same patterns played out over and over again.

Regards,

JJ
 
I hate to admit this, but when a stock gains 20% or more over a very short time frame, I get the urge to sell.

I need to overcome this.

I also get the urge to sell whenever something that has run up 10% or 15% gives back 4% or 5% in a day or two.

I need to overcome that, as well.
 
Quote from ByLoSellHi:

I am up about 33% since June.

However, I could have done much, much better had I not been so active.

Here are examples of big $$$ I left on the table.

EMS - Bought @ $12.61 - Sold @ $14.20

It is currently at $17.86


GT - Bought @ $10.99 - Sold @ $13.59

It is currently at $17.39


BKC - Bought @ $13.01 - Sold @ $13.75

It is currently at $19

RCKY - Bought @ $10.98 - Sold @ $11.21

It is currently at $14.35


Dow - Bought @ $33.80 - Sold @ $36.60

It is currently at $39.91


AET - Bought @ $31.97 - Sold @ $39.27


It is currently at $42.20


VPHM - Bought @ $9.64 - Sold @ $12.12


It is currently at $15.30




ARRRGGGGHHHH!!!!!!!!!!!


Moral of story - Let your winners run.
More...

That is why I like to scale out at different points. I always have at least 2 targets. I know we've had the discussion on how scaling out is inferior, but I look at profits from both a short and long term perspective.
 
It's always a good habit to book a profit. But if you see it's breaking out again, you can get back into a position. You don't have to walk away from a stock after you close.
 
Quote from RiceRocket:

It's always a good habit to book a profit. But if you see it's breaking out again, you can get back into a position. You don't have to walk away from a stock after you close.
More...

It is always a good habit to book a profit only if your profits exceed the eventual losses. Obviously, it all depends on the % wins of your system. Besides, it also depends on the potential profits you leave on the table. If you sit on a 20% profit that remains at this level for a while, when other opportunities occur, that you miss because your capital is stuck in something else, you lose potential profits.
I am more and more moving to time stops instead of profit targets. My stocks should do what they are supposed to do, or else !
 
I wouldn't feel to bad about exiting if the stocks later in the run had massive pullbacks which would wipe out almost all profit.

If the stocks had very small pullbacks and I still exited then I would not be pleased with myself.
 
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