EPS screen still sucks
This screen usually screams--especially when the averages are doing fair to OK (like this week). But these outperforming stocks are still struggling (just like me). Sometimes things just don't work the way you think they're supposed to.
I took a big hit today on AZZ and on another ill-advised purchase--ATHR. Those two stocks drug my portfolio down 1.77%. I day traded 4 stocks today and ended up even on them. I'll take that over the loss.
My portfolio is once again, stock free. I'm taking Thursday and Friday off and will return on Monday from a family vacation. The market will probably gain 1,000 points during my time off. You guys should buy StockPunk futures. Sell when I'm in the market and buy when I'm not.
I've dug myself a nice new 18% hole. To think that I was back near even for the year one month ago makes me a bit ill. The crazy thing is the losses have been small--but they've been consistent. Since June 17th I've had 5 up days and 19 down days. That can't be good for the ol' portfolio.
If the market continues to show the strength like it has recently, I might have to move the StockPunk Market Meter next week. Exciting!
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2 comments:
I've read that when you have a string of losses, its advisable to stop trading for a period of time for number of reasons.
1. Stop the bleeding
2. Not to lose confidence in your trading method/abilities.
3. Evaluate your trading in a stress free environment.
From my personal experience, when the my winning vs losing trades are out of balance with my longer term trading history then I know the environment is not right for my style of trading and I should stop (not that I always do).
Just based on your writings, it seems you must keep a trading record and likely have computed your win/loss ratio and expectancy per trade. If so, have you reviewed these statistics versus your last six months worth of trades?
The very short-term style of day trading, might be appropriate for this wild market. I wish you the best of luck!
Great advice! My trading journal is a mess. I didn't think I needed one when I was stock screening--I just bought the stocks on my screen and hoped for the best. I am now keeping a journal with risk values and reasons for each trade. I think that it will prove invaluable down the road.
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