timothysykes

($671) loss CVSI Long Stock

Entry comments: I bought this morning spiker that's holding its gains well, solid PR this morning, former runner, goal is to sell in the low 5s

Exit comments: Not closing strongly so rule #1 is cut losses quickly, I gave it plenty of time, but no dice...I can always rebuy tomorrow, small losses stink, but I don't want to let a small mistake turn into a potential big disaster!

Received 9 Karmas
BGoddard
BGoddard Jun 13, 1:58 AM

Yes indeed cut losses quickly

j_cesar17
j_cesar17 Jun 13, 6:29 PM

2% loss isnt that bad anyways, especially for a small account. We cant afford to lose 5-10% on a single trade so we need to have very very tight risk. 1-2% max loss vs 10-15% max gain will keep us in the game. Live to trade another day.

RichieRichW
RichieRichW Jun 13, 10:08 PM

Tim I get it, I really do. But I still have a problem with holding too long, then I end up getting screwed. I mean, how do you know exactly how long to hold waiting for the move up or the turn around? It is this problem that I have the BIGGEST problem with and it needs to be fixed but I don't know how!

RichieRichW
RichieRichW Jun 13, 10:13 PM

I had to get brutally honest here because I have a feeling that others have the same problem but they might not want to make it public because it probably makes them think they'll look stupid. And that's not my reason for saying what I did. I said because I would like feedback and I hope it will help the others that are afraid to say it themselves. Guys and Gals, please believe me, I mean no disrespect to any of you.

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