figure out how to take 10k to 100k rather than 100k to 10k. you need to survive the learning curve by protecting your money and starting out with your max and then risking 30% is like playing the lottery.
I will liquidate all the short position and long some new stocks. Though I know that the market is going to down again, maybe, but I realize that short is more difficult. I'd better stick on long. Short stock on one week high may very risk though I may get good return on that. AIG has some back, but a short stock DYAX sucks on Friday. I think I lost 1000 on Friday. You know, I have seen my account lost 10000 every day in the past month. Hope next week I can get something back Current portfolio is AIG 600 11.93 7158 MBHI 12000 0.64 7680 AMFI 12000 0.64 7680 ADVNB 22000 0.3 6600 CRBC 14000 0.55 7700 CNB 15198 0.51 7751 44569 0.53 (Leverage Long) DYAX -3000 3.07 -9210 OSK -300 22.06 -6618 IVN -800 8.13 -6504 DDSS -3000 2.5 -7500 NVGN -1500 3.02 -4530 DCP -400 19.03 -7612 -41974 0.50 (Leverage Short) Net Value 84576 1.02 (Leverage Total)
Arbituarily closing all positions just for the sake of closing them is a good way to throw money away. If it were me, I would close the ones that are trending the wrong way. So, close the Long positions if: 5 Day SMA is less than the 18 Day SMA (SMA=SIMPLE MOVING AVERAGE) Close the Short positions if: 5 Day SMA is greater than the 18 Day SMA I don't see any purpose in closing a long-term position as long as it continue trending in the right direction. Ed
Even if the OP isn't a troll, it takes something else to enter those trades. In any case, FADE HIS TRADES.
Finally got up day. Today up +7.76% Sold all the shorts since I feel short is very difficult. Will stick on long even the market goes down. Add more longs and now portfolio is AIG 600 14.55 8730 MBHI 17000 0.63 10710 AMFI 12400 0.66 8184 ADVNB 31000 0.3 9300 CRBC 17000 0.67 11390 CNB 15198 0.63 9575 BBI 2000 0.62 1240 PCAP 2300 1.73 3979 INSM 9100 0.85 7735 JTX 1500 5.63 8445 DDR 2000 4.4 8800 88088 0.97 (Leverage Long) Net Value 91137 0.97 (Leverage Total) New added long has strong last quarter earning. But BBI, JTX has negative net assets. INSM just announce the failing drug. Not quite sure what they will perform, just screen and get them.
A few of my Long Watch List rules are: Assets > Liabilities Institutional Ownership > 10% 5-Day SMA > 18-Day SMA Nothing radical, just a few common sense rules to make sure things are pointing up. Ed
"Will stick on long even the market goes down" -This is one of the reasons why you're losing dude, stop holding on the losing trades, I think today's run up was mainly due to GS earnings coming up and all the analysts coming out of the woodwork to upgrade the financial sector are here for a reason. GS just made the third attempt and could not close over 150 - we have a triple top - I would wait for confirmation and short the stock on breakdown tomorrow if it fails, because this time if this doesn't crank over 150 in style, we're looking at a trip down to the 120 level and you'll be running around with a naked behind after throwing your shorts away.