Wednesday, February 13, 2008

SPAB- Jan Gains Gone

*sigh* I don't know if I can really do this. I just lost all my Jan gains in 2 days. I know what my problem was, way too big of a position size.


SPAB opened at 1.90 and I jumped in at 2.00 The bid and ask were pretty damn wide and so the offer hit 2.24 and I had more in my account to cover my last 2 days losses and then some. But, that all quickly went away and it made since because the daily pivot point was right at 2.25 It hit the price twice and basically fell.


Freakin' market orders...I put in limit orders on the way down but nothing was getting filled so I said screw it and started putting in market orders and got filled at absolute horrible prices. On top of that I kept getting partial fills so I was charged a huge amount of commission just to get out.


I'm at a point where I feel like saying fuck it and just getting some job to work at for the rest of my life.


Well.. it's not that bad I guess. I'm still technically up 2% for the year so it's not like I blew out my account or anything. But all that work I put into Jan and now it's completely gone. My self control got tested, twice, and I failed both tests. I guess this is why I'm still a rookie.



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Mike Oppel said...

Hey man don;t feel bad...i forgot to put a stop order on a stock and now i am down 33 percent for the are doing great compared to what i am. You will make it back

tradeswing said...

Thanks man. I appreciate those words. Great success doesn't come without great failure. Although this might not seem like a great failure, to me this is a huge impact.

I'll get through it. Onward and upward. Thanks again.

Mike Oppel said...

I understand man mine is a huge impact to. I have never felt this much pain from the market. Just trust in yourself and you can get though anything