i hope the best for you with that stock. i owned it for a while (lost a tad - bought it in the 23s as well when rimm announced those recent licensing pacts with them). wall st doesn't like that co. intellectual property/royalty plays go unloved. But maybe their 3G property will pay off. i agree too however on portfolio mgmt theory... 90% is nuts... i hope you double your money, but seriously ... its easy to get compulsive and make bad decisions when so much risk is in one place. Been there done that.
I think my success today was based on picking good entry points, and just taking what the market gave me. I used to try to get at least $1K per trade, and that is probably one thing that has screwed me before. Most of my trades today had a profit of less than $1K each, but it all added up.
no you werent lucky today just unlucky yesterday....hope you are net up on idcc...youve got cohones....i lost huge money back in the day holding out for hope....that isnt even a blue chip....i couldnt sleep at night holding that....i hope it all works out for you... o yeah,hedging such a huge position is imperative,no?sell calls/buy puts ,whatever option strategies exist...
90% in one stock when your portfolio is that large is not significant risk. Sorry, but that is just plain inexperience and stupid.
Well hopefully I have finally figured out how to daytrade. If that is the case, then the percentage of my portfolio occupied by that one stock will gradually shrink.
You've figured out how to daytrade profitably after one day?? Either you're the greatest genius there is, or you're a little bit delusional. Also, what do you mean when "you think" that 6 out of 8 trades were losers yesterday? You don't know for sure?
It seems you may have broken rule #14 of trading... never fall in love with a stock. I could be wrong, but, when your handle is the stock's name, it's usually a safe bet that you're married to your position. I could be way off on this but if not, maybe it will encourage you to re-evaluate your position.