Only one word to describe this week: Ouch! Most of my positions closed for a loss, including a new one that I opened this week on MER. Since last Wednesday when my account peaked at over $12,700, I’ve lost about $1200.
This week, my account went down $625.03 to a new total of $11,542.03. This was by far my worst week ever. I also had my worst ever day with a $494 loss on Thursday.
Other than the mistake I made in not getting out of TRN when I saw the new support level, I don’t think I made any bad trades. I just got hurt by the sudden upsurge in the market when I was holding all puts.
It is rather disappointing to lose 2-3 months of profits in one and half weeks. On the other hand, it’s good to know that with all of my trades going against me, I still only took less than a 10% hit on my portfolio. So at the very least, my risk management and money management rules are working for me.
Week ending 4/25/2008
April 25, 2008 — SaeedOnly one word to describe this week: Ouch! Most of my positions closed for a loss, including a new one that I opened this week on MER. Since last Wednesday when my account peaked at over $12,700, I’ve lost about $1200.
This week, my account went down $625.03 to a new total of $11,542.03. This was by far my worst week ever. I also had my worst ever day with a $494 loss on Thursday.
Other than the mistake I made in not getting out of TRN when I saw the new support level, I don’t think I made any bad trades. I just got hurt by the sudden upsurge in the market when I was holding all puts.
It is rather disappointing to lose 2-3 months of profits in one and half weeks. On the other hand, it’s good to know that with all of my trades going against me, I still only took less than a 10% hit on my portfolio. So at the very least, my risk management and money management rules are working for me.