Friday, May 6, 2011

This is why most quit trading!!

This was a tough week for me in the stock market and tough week on my retirement account. I made my worse mistake with SINA in that my mental Stop loss was crossed because of news. Then it made a recovery and I really thought I was good to go. Then May 3rd, bam!, lost $13 bucks a share before I could hit the sell button. That cost me, $465 in one position. That was half of my total loses out of 8 that I sold this week. After the butt wimping, I’m left with 2 positions and a stock market that has left me guessing as of Friday which way it is going to go next. So, when things turn against you and your not sure of direction, you stand down and wait for opportunities. So I will lick my wounds for a few days and do just that.

CVI (272.24)
PDC (100.03)
PRX (23.64)
BIDU (52)
HITK 207.96
ARUN (162.61)
SINA (465.86)
JAZZ .51

Jan
Feb
Mar
Apr
May
Jun
YTD 2011
$5.41
$698.41
$163.29
$248.52
$867.91
$0.00
$1486.46

Stock
Entry
Price
Stop
Profit
% Gain
CSTR
$48.48
$53.52
$46.50
$312
10
SLE
$18.42
$19.28
$18.25
$116
5
TOTAL ------------ ----------- ----------
$428
---------

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