Las Vegas Sand Rally Blunder

Discussion in 'Psychology' started by fencerd4, Apr 5, 2009.

  1. fencerd4


    If you guys take a look at my lvs call when it was 2.39 (9000 shares), you probably think I doubled my money. However, I only made about 40% because I was daytrading it while it was going up. I averaged 300-500 per day day trading this stock. However, I missed out half of the big rallies when I sold after it went up to 16% then 26% because I am scared of a pullback. However, I am sure that this is a stock that will survive, so i never sell when I buy in at the high of the day.

    Another example is when I bought 4200 shares of mgm aftermarket this thursday at 3.39 and sold the next day when it went to 3.87, but it later rallied to 5.2.

    I would not call myself a daytrader because I hold positions over night. However, I traded over 168 times since feb 20. If I just bought and held, I would of made more money and saved on commissions.

    I am known for my bullish calls on stocks, but I feel so pathetic when others follow my call, held their shares, while I stupidly think my measly profits are great.

    Q: Should I daytrade a stock that I think will go from $2 to $10 in six month or hold some % of the position long and daytrade the rest? Or, should I sell my shares and take half of my principle and profit to buy calls?
  2. Eight


    Daytrade futures.
  3. jem


    you should do whatever makes you money in the long run.
  4. Illum


    Sounds like you made a nice return. Shouldn't beat yourself up over taking profits. What do you want to make on a trade? 9002345%? Heh, market will be open all next week. Repeat your nice trades, don't bash um. You will have losers to bash yourself on.
  5. If you think like that, you will never make it.

    The only numbers that should ever be important enough to care about, are the ones in your bank account.
  6. jmoo


    you could sell half and leave runners on with a breakeven stop