Friday, August 3, 2007

I need to take a break from trading !

I sold the shares of the USEY today as the markets were in deep trouble. I should have sold the shares when it reached the stop limit but again I let it hang for a little longer. I need more discipline. I will take a break from trading as I don't have the right mind set right now. Also I will need to add some more funds in order to effeciently trading stocks. I don't think I can make over 200% in a few weeks or even months. I will study my pass trading activities and really take a look at what was I doing in the trading decisions. I want to be a full time trader and building wealth. So, see you in the near future and good luck to you all.

USEY
B:1.2299
S:1.07
-13%
Why sell it:
-stop loss
-weak markets

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Wednesday, August 1, 2007

New start again !

Sold the remaining shares of LOCM and bought USEY. I can only buy one stock at a time right now, I don't have margin anymore. Funny thing is after I sold all the shares, LOCM starts to spike. What can I say !!!!! I can't blame anyone buy myself !! I would be very careful with high-flyers and the gap ups. Also, I don't want to visit the message boards, they are more harmful and helpful. After all those losses, it just makes me want to succeed ! I am gonna be stronger and smarter than before.

USEY
B:@1.23

Why buy it:
-double bottom
-stochastic in the oversold area

Time frame:
short term - less than a week

Stop loss:
5- 10%

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They sold my shares !

TD Ameritrade sold most of my shares at the worst time ! They sold my shares at the bottom and not days before. Avoid this broker at all cost !!!!!!!!!!!! The worst broker !!!!!! What a terrible mistake what cost me !! Now I need to start all over again. I gotta learn from this mistake. Great I make 280% gains to recover !!!! What a downtrend I was in !! Wrong side of the train!! OK, let's see how I recover from this. I am unset but not giving up !!! I am more determined than ever before.

B:9.0476
S:5.8238
-35%

mistakes I made:
-falling in love
-over leverage
-didn't diversify
-no stop limit
-don't want to admit mistake
-high expectation
-gambling
-hiding

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