I got smoked 3/19/2010

It is interesting how life works at times and painfully. I really was pissed at my self where I did not take advantage of the Big Mouth Stocks while day after day they were great plays. On Friday, I had a chance to look at the market because of a freak schedule change. If the Big Mouth Stock showed any action, I was going not to be afraid. I was going to hit it and hit it hard. I did not know if was going to hit back.
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I started my short soon after the market opened with a 1/3 size lot. Start feeling lots of pain. First peak was made, now thinking the turn was at hand, I added a second 1/3. I had a sell stop for a third 1/3 if the stock broke. I also decided I could not continue to hit it as it went higher so I placed a stop above the 5 minute high. Seconds later I was taken with a big loss. I played the stock like I should have been playing all these Big Mouth Stocks. If I was as aggressive with them as I was with this one, I would be a very happy man but still had taken a big loss on Friday.
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I then added to this mess by allowing it to control the rest of my trades. If I was as agressive with them the rest of the morning, I would have been in the black. Damn this game is one big PITA.
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The numbers:
Stocks: gross -811 net -829 shares 3600
Stock Futures: none
Forex: none
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Trading the big mouth stocks I see them playing out this way. For every 20 big mouth stocks traded, I would expect 12 to be gains of around $500, 5 would be break even and 3 would produce loses of $1000 like the one today. So your win rate would be 4 times your loss rate but your average gain would be half of your average loss. In a given month, about 30 Big Mouth Stocks meet my trade plans. This should produce about a gain of $4500 a month. Sounds so simple.
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I was on plan years ago but I never really got back to it totally. I have made a plan - I need to follow it- damn it.