Dow up 82
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First up the always needed DISCLAIMER: (sheesh) FOLLOW MY ADVICE AND YOU WILL BLOW YOUR ACCOUNT OUT IN DAYS!! so, enough of the legal mumbo jumbo
Followers
Stuff learned from the months
EARNINGS: Never a good idea to hold through earnings...that one bad stock can toast a lot of profits (A LOT)
LAW SUITS: Stay away from these! (remember GS)
ADDING TO POSITIONS: Don't just dump a stock. Do some cost averaging, maybe it will help.
FUTURES TRADING: In March it cost all my profits and then some, so I stopped futures trading. The plan was working. That is until April when the 200 point down day and bad earnings (NTY -8.62) again cost me all my profits (save 21 dollars). Then I started trading futures again to get back to the green. So, really, no point here.........?
LAW SUITS: Stay away from these! (remember GS)
ADDING TO POSITIONS: Don't just dump a stock. Do some cost averaging, maybe it will help.
FUTURES TRADING: In March it cost all my profits and then some, so I stopped futures trading. The plan was working. That is until April when the 200 point down day and bad earnings (NTY -8.62) again cost me all my profits (save 21 dollars). Then I started trading futures again to get back to the green. So, really, no point here.........?
4 comments:
Bob - may I ask what you did with AMGN error trade? If its still on, .. why?
Hey Joe, it was a trade in error. I still hold it because earnings are the 26th after close, and I'm hoping for the sell off that usually happens before earnings. If I had deeper pockets I would hold it through earnings, but I doubt I will be able to hang on to it tomorrow.
Sooooo....Today I learned that the price of AMGN fluctuates way too much for my small account size, and my upping my share size would be better served on slower moving stocks.
I think the better question would have been "Hey Bob, why didn't you buy WLT?" Joe...you must be some kind of stock picking genius over there, up 2.60 just today. Nice going Joe....have a great day.
I took off most of WLT today as it probed 70 and hedged the rest...this one was played via options. I should have been more specific when I mentioned it to you.
And I hope you don't mind my saying...but with error trades the best course of action is to offset it immediately. That son of a B should not be banging around in your account 3 trading days later.
You're right...I should have gotten out of the trade right away.
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