Tuesday, May 7, 2013

Trading update...

Just as I had tweeted last night, I paid the price for jumping the gun and getting into $BBRY before waiting for confirmation by getting stopped out for a loss. That was only one of three losses I was forced to take today with $FIO and $EDU being the other two. In addition I took a flat in $TVL which has earnings on Thursday and hasn't really broken out like I was anticipating it would. So after today's trades, I now have 8 consecutive losing trades and one break even trade. My account is now down roughly 7% since inception in late April.

However, I'm not worried since I have some decent unrealized gains in $SB, $GST, $BONT, $MTG and a promising short position in $SSRI. Should these positions follow through like I anticipate they would; it won't be long before that 7% deficit is wiped out and my account is into profitable territory. I'm quite used to taking many small hits. As long as I stick to my trading plan and cut loses early I am happy as it only takes a handful of decent winners to recover.

So looking forward to tomorrow. Will post my watches later tonight.

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