Leave to fight another day man. This turned out to be China garbage pump and dump I guess. I hate holding into earnings and it will make or break you. I've learned that lesson the hard way. I do think this AG garbage has another run in her like the solar garbage. Got to expect some kind of bounce tomorrow. I may debate as it should have a lot of action. If I see $6 cross the tape, I may go in. Knife catchers in full force!
Been there with CVX i was long about 2000 shares once and the price started going down. In my infinate wisdom i bought more and was long 5,000 shares when the price dropped about a buck. I panicked and sold my 5,000 shares (which i swear made the price drop another 30 cents) And of course, guess who ended up selling at the low of the day? ME!!! That was my worst day of trading ever and i swear i will never get into a position that big again with a measly 25k account (this was back when i was with Bright and they give you that unlimited margin) I think i ended up down just over 7k for the day which was my worst day ever because i had lost another 3k that week in another bad trade. So I pretty much blew out my account that day but learned the best lesson ever. "Never use that much margin when you are a newb." and "dont be afraid to hold overnight just because you dont want to pay margin." "and the best one is "If you feel any kind of fear when you buy the stock, you bought too much" Now I am happy with my 2 times margin scottrade retail account with 7 dollar trades and even now i dont use my full margin and i never put more than 1/3 of my cash in one stock. I'm happy with my small returns (actually im up about 13% this month and almost 25% since Jan this year. Hope i can keep it up) I still cant live off my trading, but I will build it up slowly until i can.
Still working the market and reading charts and momentums. But what are some of the signs/time to look for the upswing on this? Appreciate the help guys (&gals)
thanks for the feedback peil. I figured that all or most had similarly bad days, it just helps to hear about them after one of your own. I am reducing my position size and climbing back on the horse. Once I feel the mojo coming back (and some of the losses) I can increase pos. size again.
Thats the plan pump, reduce size a bit and keep on swinging!! and I'll try to avoid revenge trades..lol
THANK YOU SO MUCH for bringing SEED to my attention. I went to buy this morning at 6.43 but ended up chasing it to 6.69. Just got out at 7.10 (didnt want to be greedy) for a nice 40 cent gain.