Sorry, late (& quick) reply - had shifted from 'work' mode into weekend mode researching the Pacquiao Mayweather fight.
I hear ya buddy - what is it they say? "Sell down to your sleeping point". Sounds corny but has some truth to it.
I commend you for making a concrete decision. You're one up on me - not on the holding part (I had no intention of selling today nor did the SP ever reach my stoploss price) but on the overcommitment part.
In fact, I had a quick skim on the XSO or Afterhours DT threads yesterday and some of them were mocking/laughing at Red Emperor, me and some others for disclosing the units we bought AZK and at what price - not that I care (Diff'rent Strokes for Diff'rent Folks) but still a wake-up call for me not to overcommit. In addition, right after the market closed today, I had a little mopey moment when I thought about all the profits I'd let slip in ADO, PSY, AZK had I exited at an optimal level --> compounded, they would've amounted to approx $1.8 mn (all in perfect hindsight of course).
Hey!!! Aren't you glad we didn't exit at $0.60? [joking joking! sorry!]
If you don't mind yet another tip from a hypocrite: I would recommend you keep a trading diary. Jot down the basics of course (price, date, code etc) but more importantly, how and why did the stock come to your attention; what further research did you do; where and how did you determine entry point (and at this stage, also record your position size [R-Multiples], further unit addition if applicable AND your exit strategy). Upon full completion of the trade (ie. sale), jot down the basics such as how many R-multiples you won/profited or lost; whether you followed your trading plan, and if not, why not. Could you have fine-tuned your exit even further? And many many other questions you'll develop along the way.
Now, onto bugging nihilism...
"...I know people who are happy with 100% of their money in specs, I could never do that. I've been up as high as half my money in specs after big wins but I've always cashed out pretty conservatively and switched it to mid-cap growth stocks or dividend yielding large caps."
Maannn...am I glad you wrote that. THAT is exactly what I used to do.
{Addressed to squeef: Truth be told... I haven't backtested at all BUT I am pretty sure I could have had the same results I've been having just by buying into low PSR MidCaps rather than by churning in & out of all these high excitement high volatility companies [checking... checking... yup, just using my SHV as an example, the percentages work out to be pretty similar]}
Damn...something's messed up in my brain chemistry. I've been buying more and more spec stocks...; I've been going all in like The Boy Plunger instead of sizing them properly...; have fallen in love with 'stories' and held on for grim death instead of being clinical; and the biggie of them all, resumed gambling again a year ago, winning (and losing) tens of thousands.
I'm starting to think I've been infected by that risk-taking brain protozoa http://www.theatlantic.com/magazine/archive/2012/03/how-your-cat-is-making-you-crazy/308873/ (no surprise, my neighbours have cats and their bloody little turds littering the sidewalk). Time for some bloodwork...
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Last
17.5¢ |
Change
-0.005(2.78%) |
Mkt cap ! $342.8M |
Open | High | Low | Value | Volume |
18.5¢ | 18.5¢ | 17.5¢ | $692.6K | 3.851M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
50 | 1281949 | 17.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.0¢ | 202676 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
49 | 1276949 | 0.175 |
82 | 2768435 | 0.170 |
55 | 2675316 | 0.165 |
69 | 1267060 | 0.160 |
25 | 1061772 | 0.155 |
Price($) | Vol. | No. |
---|---|---|
0.180 | 202676 | 8 |
0.185 | 828566 | 10 |
0.190 | 813900 | 21 |
0.195 | 948924 | 17 |
0.200 | 996514 | 43 |
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