Another one that got away
BUCY was another "watch list" stock that I ignored today. If I would have bought it after it broke its 10:00 candle I would have risked 40 cents per share. Selling it at the close (at $75.86) would have made 6.48R.
I got stopped out of four stocks today. All of them were stocks that I pulled from different sources. Most were up on big gaps. I'm wondering if it would be better to just keep an eye on stocks that I've been following for awhile so that I'm more familiar with the stock's recent movements.
I won't be able to last long if I stop out of four stocks every day, so I better start learning quickly.
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4 comments:
Stocks from four different sources? Why not go to Vegas and pull slots? Please stop trading and regroup.
I may be bugging some of you with my decision making. My hope in detailing my day to day struggles is that I show the realities of being an individual trader who is trying to make a go of things. I'm struggling this year, but my goal is to come out of things with some new ideas and a trading strategy that works for me.
Scott -- please reconsider your decision to daytrade. Try to pinpoint why your position trading did not work and fix it before moving on.
Most importantly, why are you trading long when the market has been going down. Very low odds.
I'm guessing my lack of experience is what is in play here. I need to get a tough year like this under my belt. Things have been too easy for me over the past few years and I need to get my buttocks kicked a bit before I can see straight. If things don't work the way I hoped it'll be a good (but expensive) learning experience for me (and for the folks who read StockPunk). I am not posting so everyone follows in my footsteps (Lord help them if they do).
I've tried several different strategies over the years. Some worked and some didn't. But I think I grew with every experiment and idea.
I don't think I would have learned without putting money one the line. It's a whole different ballgame for me when I'm actually risking cash.
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