A lot of guys in my office murdered AIG on the upside, some guys made decent money on the downside. BUT, I know of a few people that were absolutely smoked in AIG -- mostly because of bad trading (adding to losers).
The funny thing is that a lot of new traders in my office are trading AIG and making a little money and they think they know what they're doing. They don't. I heard of newbies holding .80 cent losers and making a 1.20 on their winners. Horrible.
AIG giveth...AIG taketh away...that's been our motto over the past few days. Anyway, I know how tough trading periods go, I've been there. Go back to the basics and rein in your losers.
I haven't ever followed your thread, but I scanned through it this morning. Reading about the 2nd half of last year was enlightening because it was interesting to see how someone else traded that mayhem. In short, your posts brought back good memories.
OSK short? I've been watching that stock absolutely rip now for weeks (along with STEC). How do you determine when to fade something like that on a daily chart? Intraday, I can do it successfully about 60% of the time. But I find it totally more difficult (mostly psychologically) to do it overnight -- honestly I think it's the idea of beginning my day negative a few hundred to a few thousand dollars. I prefer to be flat, but growing in this business is all about doing what is uncomfortable and dealing with that discomfort.
The funny thing is that a lot of new traders in my office are trading AIG and making a little money and they think they know what they're doing. They don't. I heard of newbies holding .80 cent losers and making a 1.20 on their winners. Horrible.
AIG giveth...AIG taketh away...that's been our motto over the past few days. Anyway, I know how tough trading periods go, I've been there. Go back to the basics and rein in your losers.
I haven't ever followed your thread, but I scanned through it this morning. Reading about the 2nd half of last year was enlightening because it was interesting to see how someone else traded that mayhem. In short, your posts brought back good memories.
OSK short? I've been watching that stock absolutely rip now for weeks (along with STEC). How do you determine when to fade something like that on a daily chart? Intraday, I can do it successfully about 60% of the time. But I find it totally more difficult (mostly psychologically) to do it overnight -- honestly I think it's the idea of beginning my day negative a few hundred to a few thousand dollars. I prefer to be flat, but growing in this business is all about doing what is uncomfortable and dealing with that discomfort.
