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.
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.
ReplyDeleteI 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