This Trade Proves Why Traders Who Refuse To Cut Losses/Trades Are Typical Financial Losers
Posted by Timothy Sykes on Wed 18th of Mar, 2009 05:00:56 PM
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As I wrote in THIS post & alerted TIMalert subscribers, I shorted 2000 MBLX at $6.25 in the early afternoon of March 12th, thinking that its inability to go green on the day when the markets were up 3% meant it should return to its intraday lows of $4.60…all I wanted was 50 cents-$1/share, but this is what happened:
I was right for 25 cents/share down to $6, but after an hour when it couldn’t break past the key $5.95 support, and with the overall market getting strooooonger, I cut my gain short for a 5% gain, or $400 profit (because yes, I do make mistakes and the stock’s refusal to drop more told me my thesis was dead wroooooong)–now putting me up 250% since November 2007, making me far and away the best performer of anybody on the internet, let alone #1 out of 20,000+ on Covestor, not to mention that my returns and trades are verified–because as I say in my instructional DVDs which some people are too cheap to watch and learn from, preferring instead to “wing it” and lose faaaar more in truly ignorant trading (some TIMalert subscribers seriously let this one ride not just when the stock went green on the day–no respectable short seller holds overnight when that happens, but also held even as the stock spiked the next morning in a truly predictable short squeeze!)
Her’es how TIMalert subscribers performed–Reaper has ALL my instructional dvds and commented “Tim’s right … I got in quicker than others, but I got out on my own, gradually covering my 4k shares as I saw that it could not hold under 6.”, to the greedy/spoiled M.C. to those who at least cut their losses somewhat quickly:
+$728 on MBLX …
-Reaper
Made roughly $400 nothing to write home about.
-M.C.
lost 170, but in a trailing stop of 5%, was in at 6.10, had to be away for a while , covered at 6.26, 2.6% loss.
-BGW
i was talking to some guy and it squeezed, -$120
-RD
Somehow I’m not getting my point across that when I short or buy, my entry points are at key pivot points in the stock and if the pivot swings the other way, you gotta get the hell out, these stocks are volatile and you’re asking for a beating if you don’t play by the rules it took me 10 years to learn!
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TIM Trades
View All| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Nov 6 | QXM | $4.31 | $4.80 | $1936 |
| Nov 4 | COT | $8.66 | $8.88 | $642 |
| Nov 4 | QXM | $4.61 | $4.89 | $822 |
| Oct 30 | DDRX | $25.70 | $26.53 | $812 |
| Oct 29 | CTDC | $4.00 | $4.42 | $781 |
| Oct 26 | AWSL | $3.24 | $4.10 | $2516 |
| Oct 23 | RODM | $5.27 | $5.23 | $301 |
| Oct 22 | AMLM | $2.69 | $2.97 | $820 |
| Oct 22 | USEG | $6.12 | $6.09 | $85 |
| Oct 20 | CBOU | $8.93 | $9.06 | $243 |
| Oct 16 | VRMLQ | $16.79 | $18.65 | $2773 |
| Oct 13 | YONG | $11.05 | $11.66 | $1202 |
| Oct 13 | NPHC | $0.59 | $0.71 | $583 |
| Oct 12 | IMGG | $0.60 | $0.70 | $682 |
| Oct 9 | ZAGG | $5.50 | $6.10 | $2380 |
| Oct 7 | GVBP | $0.03 | $0.27 | $702 |
| Oct 1 | NPHC | $0.70 | $0.85 | $1482 |
Total: $92,304 (644%)
