Did my tax for trading on weekend. I don't have constant spreadsheet update like some smarties, so I have to get the old pencil out.
2010/2011 Fin Yr Not my best year by a long way 60% winning trades 60% of profit from daytrades and ST. 40% profit from >12mnth holds
Larger losses were mostly just dumb. A tiny amount of trades (11) contributed to 75% losses in trading. In most cases I was in front and failed to stop loss. I think the fact that I had made a paper profit clouded my thinking when it came time to (not)sell. All crap stocks too. HCG, URA, UXA, ESI, IBG, BAS, AAR, MGY, AZZ, MNM that I did not even like. I think I resented the fact I was losing money on these stocks and hung on too long to get my money back.
However, most of these stocks are much worse than when I sold. eg: ESI at 2.3c. So if I had kept longer it would have been ugly.
Solution. No more trading in stocks I am dubious about.
Most money was made from my fav stocks. NTU, RMS
Where I stuck to the rules I did OK. Chasing money thru boredom was recipe for disaster.
