My monthly numbers:
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Wins: 43 Losses: 27
Avg Win: 52.83 Avg Loss: -127.42
Gross Trading: -1,168.44
Commissions: -424.81
Net Trading: -1593.25
Biggest Win: 263.50
Biggest Loss: -1509.00
Data Fees: -73.31
Interest: 265.78
Account Net: -1400.78
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This month was about one trade. I took a large short in a stock that when against me a little more than I expected. It hit where I was going to place my stop even before I could place my stop. The stupid thing is I panicked. I just blew the position out when I should have taken one step back and calmly looked at it.
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It stopped going against me less than a minute after I covered and quickly went below that point. I then should have placed my stop above that peak and let the trade play out. The stock went down to my break even point and bounce in a range of being between my BE point and my original stop point for about 30 minutes before breaking sharply. If I would have stayed in the trade, it would have been my best in over a year.
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I know this is a lot of would of, should of, could of talk but my main trading problem is not having the guts to enter a trade I see or if I do, not having the guts to stay in the trade until it is done.
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1 comment:
Hmm... based on your average win and loss amount, I'd say you're either not letting your winners run and/or you're keeping too wide of a stop loss. Do you have a consistent method or % in mind when placing your stop losses? Do you ever use trailing stops? Just curious.
I like your shorting big mouth stocks method. If you can fine tune it I'm sure you can make some big money off it.
-BD
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