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

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

  1. edbar

    edbar

    I keep throwing out small suggestions to atleast steer you in the right direction. But watching how you trade is a painful process.
    I never just close positions without a technical reason.

    If you go to the CoolTrade website and click on the menu labeled "Stock Trends", you will see 12 stocks on the Up list and 33 on the Down list. That is a 3:1 ratio on the downside.

    The market is in a serious meltdown and being in all long positions is nothing short of pure gambling (and a lot of praying). Two things you don't want to be doing with your hard-earned money.

    Ed
     
    #61     Jul 13, 2009
  2. Why did you decide to pay a 100K tuition instead of paying a lower tuition which you could have paid from trading gains (and only if there are trading gains)?
     
    #62     Jul 13, 2009
  3. Because he wants the money fast, plus he gets to look like a big shot for a while. I used to see these same guys in vegas 10 years ago. They would come to tables, blow 10k or 25k or some huge amount...lose the whole thing...then come back 30 minutes later with 2 crumpled up dollar bills hoping to get it all back.
     
    #63     Jul 13, 2009
  4. lost100k

    lost100k

    What stocks are good for short? I want to short some, but finding short stock
    is difficult.




     
    #64     Jul 13, 2009
  5. edbar

    edbar

    There are 1000 different strategies you could do to trade the stock market, and neither I nor anyone on these boards can manage your accounts.

    What stocks you open positions in (Long or Short) is dependent on the strategy that you are going to deploy. It's not just what stocks, but also when to open, when to add to your positions, when to sell some (or all off), when to take profits, etc. etc.

    My ATS systems do all of the above 100% unattended (in accordance with the pre-defined rules in the strategies, and there are multiple strategies. Also, the ATS systems look at the data all day long, so the right stock to buy may be right at one instant in time, but may not be right to hold overnight, or even for more than a few minutes.

    I don't gamble and I don't manually pick stocks to buy and hope they do something. The stock market is not a slot machine to me.

    I simply mentioned a few of the Short Watch List rules in one of my strategies that at least ensures the stock is (currently) pointing in the right direction, as I don't believe in opening a position that is clearing going in the opposite direction, in the hopes that it will turn around. That's a good way to throw money away.

    Here are few rules, but without the ATS to calcuate the internal indicators, some of the other indicators are not going to be accessible:

    For instance, the CoolTrade system calculates how many Bullish and Bearish Indicators there are for every symbol, so you could apply rules like:
    TOTAL BEARISH INDICATORS > TOTAL BULLISH INDICATORS, and/or
    TOTAL BEARISH INDICATORS atleast 7 greater than TOTAL BULLISH INDICATORS, and/or
    % OF STOCKS DOWN(5) > % OF STOCKS UP(5), and/or
    % OF STOCKS DOWN(5) > 70

    BUT THESE OTHER INDICATORS SHOULD BE AVAILABLE IN ANY SYSTEM:
    Assets > Liabilities
    Institutional Ownership > 10%
    5-Day SMA > 18-Day SMA

    I wouldn't let anyone tell me just a list of stocks that are going to go up or down, as there is no way they could know that. But at least following technicals you know the stocks are going in the right direction. Then it's just a matter of applying good money management, profit goals, and exit rules and stop loss goals.

    Just believe me when I (and so many others) are telling you that their is more to the stock market than just opening positions (randomly) and hoping for the best. Which unfortunately is how most people do it.

    Good Luck!

    Ed
     
    #65     Jul 13, 2009
  6. No excuse. Buy put or sell call options.
     
    #66     Jul 13, 2009
  7. you are asking the wrong question.

    seek help before you lose your risk capital.

    knowledge you can buy, risk capital less so.
     
    #67     Jul 14, 2009
  8. 'You know it's going to go down, maybe'? And you're basing your trading decisions on this belief?

    Your plan is to 'stick on long even the market goes down'? Even though you know that's a stupid thing to do, you're going to do it anyway?
    Absolutely +1.

    Liquidate all positions immediately, please.
     
    #68     Jul 14, 2009
  9. lost100k

    lost100k

    Second up day, up 3.61%. Wish this week will be an up week. Buy RAS today.
    RAS price/book is low,only 0.08. Now just buy low price/book and low P/E stocks.

    ADVNB 31000 0.33 10230
    AIG 600 14.39 8634
    MBHI 17000 0.67 11390
    AMFI 15400 0.68 10472
    RAS 8000 1.12 8960
    CRBC 17000 0.64 10880
    CNB 15198 0.7 10639

    INSM 9100 0.9 8190
    BBI 2000 0.64 1280
    PCAP 2300 1.74 4002
    84677 0.90 (Leverage Long)

    Net Value 94429 0.90 (Leverage Total)
     
    #69     Jul 14, 2009
  10. lost100k

    lost100k

    Who is the best journal writer on the board in your mind? I want to read and learn. Thanks.
     
    #70     Jul 14, 2009