Lost 100K in one month, 50% wiped out, start to write journal

Discussion in 'Journals' started by lost100k, Jul 7, 2009.

  1. lost100k


    I just lost 100k in one month, wipe out 50%. I need to write the journal and need your guys help. Thanks.
  2. lost100k


    My current position

    AIG 700 13.58 9506
    MBHI 14000 0.68 9520
    AMFI 16000 0.68 10880
    ADVNB 25000 0.36 9000
    CRBC 15584 0.57 8883
    CNB 16798 0.56 9407
    RAS 8000 1.12 8960
    66156 0.73 (Leverage Long)

    DYAX -1000 2.88 -2880
    OSK -200 21.45 -4290
    PALM -200 15.28 -3056
    TRW -200 11.28 -2256
    IVN -600 8.2 -4920
    -17402 0.19 (Leverage Short)
    Net Value 90329 0.93 (Leverage Total)

    I plan to close RAS today, want to reduce the long position to 50%
    Also short 200 IVN, short 100 OSK
    short 1000 DYAX, short 1000 DDSS,
    short 1000 SCLN, add more short position to 50%
  3. limau2


    stocks going down and you still playing it ?

    you better create your own blog--for your eyes only. You need to record all the CHARTS..impossible to do it in the forum...Trading is self-study...not for public viewing:D
  4. GTS


    Liquidate your account.

    You're welcome.
  5. lost100k


    My today's position after close. Down from 90329 to 89092, -1.37%

    AIG 600 13.1 7860
    MBHI 12000 0.68 8160
    AMFI 12000 0.67 8040
    ADVNB 22000 0.32 7040
    CRBC 14000 0.59 8260
    CNB 16798 0.52 8735

    48095 0.54 (Leverage Long)

    DYAX -3000 2.82 -8460
    OSK -300 20.9 -6270
    PALM -400 14.89 -5956
    TRW -600 11.13 -6678
    IVN -800 7.63 -6104
    DDSS -3000 2.43 -7290
    -40758 0.46 (Leverage Short)
    Net Value 89092 1.00 (Leverage Total)
  6. stock certificates are as good as toilet paper in this climate... but atleast toilet paper will be gentler on your ass.

    seriously.. the equity ponzi scheme has come to an end...
  7. NoDoji


    Here is some help:

    I think you are trading too many things.

    Find 5 stocks or ETFs that provide decent daily/weekly ranges, and have reasonable spreads and high liquidity.

    Study their charts in several time frames: 52-week, 6-month, 3-month, 3-day and intraday (down to the 5-min level).

    Know the major and minor support & resistance levels by heart.

    Know where price is in relation to the 200-day, 50-day and 20-day moving averages.

    Before putting on the trade, note why you are putting on the trade, the price at which the trade setup would be proved no longer valid, and an initial target price.

    The price that would invalidate the trade is your stop loss.

    Choose a position size so that if the stop loss is hit, you do not risk more than 1% of your trading account (less risk is actually better).

    Make sure your initial target gives you a profit of at least 1.5 times your stop loss.

    NEVER move a stop except in your favor.

    That's a start.
  8. Very sound advice from NoDoji.

    And learn to take losses, starting now. It's all part of the game. To hold stocks hoping they come back is NOT a strategy. Punt your current positions; that will serve the purpose of getting your head out of the grinder. Then do some fundamental/technical work and put long/short positions on with targets/stops. Rinse, Repeat.
  9. jj90


    I'll take the other side of your trades. Get you some nice fills.
  10. Corelio


    Yikes...this portfolio has no macro/fundamental theme. You're just shooting from the hip.

    But good luck to you.
    #10     Jul 8, 2009