Did I miss something? I'm trying to have real discussion with other traders.
Took break from trading, but I know you cannot give up
- Thread starter Make Dough Repeat
- Start date
@Make Dough Repeat what you could consider is to review your position sizes and risk levels which you take with your trades. I get the impression that you have trouble accepting the size of the losses on the trades that don't go well.
Dryships had a short squeeze cause it's shares OS was 1.1M but even after halted in the 90's it reopened in the $70's then a steady decline from $20. You had plenty of time to get profits. It's a permanent short as it's CEO can't stop screwing shareholders. He likes to overcharge DRYS for ships as he did on the recent and buy them cheaper from DRYS for his private Cardiff. He just did a 2nd $200M dilution deal. 1st time, stock fell for 41 of 44 days, down 94% to .25 pre-reverse split. There should be classes on George Economou as no one better at screwing shareholders. Oh, and they don't own any ORIG, as they sold the last of it, in April. Trading it is nothing but a gamble as it loses money hand over fist.
Sure - I agree but from a TA perspective how would I avoid stocks like that? Do you use filters? I was not so concerned with the company as it set off my tech alerts, regardless of its fundamentals which I didn't look at.
Maybe you should look at the fundamentals and backstory after whatever tech alert you use goes off. Just a thought. Color me old fashioned.
Yeah, I think I need to take this approach if I plan on holding for more than a couple hours. I wish there was a good technical filter to filter out the garbage prone to halts, etc.
Sub 1.00 is garbage on most stock exchanges. General recommendation is only trading >= 10.0.
A multiple of volatility (ATR, STDDEV) can be used to estimate risk and position sizing, which in this case will be absurdly low.
You don't wanna trade more than a fraction of daily average volume in order to ensure liquidity.
These kinds of test can filter out 99% of garbage and you may have to rethink your allocation strategy. Don't forget filtering on faulty/bad data as well.
So is this trading or gambling, you decide for yourself.
UPDATE: One trade shouldn't mean so much, then you can sleep at night and not torment yourself.
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Thank you - passed up on OWCP last week, ha you can guess what happened 
but the methodology was right to pass it. Had the flag drawn... sucks but better to do it right... ugh now I am super frustrated, should of pulled the F'ing trigger huh? This def creates mental anguish, how do you guys get over stuff like that..shoulda,coulda,woulda..
but the methodology was right to pass it. Had the flag drawn... sucks but better to do it right... ugh now I am super frustrated, should of pulled the F'ing trigger huh? This def creates mental anguish, how do you guys get over stuff like that..shoulda,coulda,woulda..
You get over it by realizing that you are going to eventually die, and you cannot take it with you. Become a realist, and know your fate.
Bam... I beat you all!
163/340=47.9% (by posting this though, I'm dropping my average unless sometimes likes this post.... tee hee)