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Hard Hit
Rating: 0.22 (9 votes)
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InvestorPlace Blogs is powered by Marketocracy. Marketocracy has authorized Investor Place Blogs as an official registrar for voting through Marketocracy's Investment Research Rating service. Registered members of InvestorPlace Blogs are linked with a Marketocracy account to establish voting power based on their performance of trading and posting on stocks.
I thought that i am a good trader and last week has turned out to be a crushing week for me. My NAV went down from 9.9 to 9.4. I started the competition with a bad note because of not knowing the way they fill the market orders here. Had they filled all my market orders that i placed in the beginning, i would of remained in the black for some time. By the time i realised that they don't fill the complete quantity of market orders, it was too late for two of my stocks. They appreciated by about 25%. So i bought them later for a high price and unfortunately one of those companies (AXR) gave a disappointing result last week and the stock tanked bringing down my whole portfolio by 5%. It comprised 22% of my portfoio. I sold it now after losing about 40K. So far i have been following the buy and hold policy here and it's not working. I have just realised that i am one of the worst performing traders here :( . My rank is 523. I dreamt of staying in the top 100 after 1 month into the competition. Well, i will be changing my strategy now. I will change my stocks more frequently (more active trading) and try to break into the top 300 by the end of October. I have 22% of money in cash now. I welcome any suggestions about investing that money in any nice stock. Right now i have only one stock with more than 10% of my portfolio. That one is AAPL and i am sure that AAPL will touch $160 this year. | ||
Bad Guess
Rating: 0.75 (8 votes)
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InvestorPlace Blogs is powered by Marketocracy. Marketocracy has authorized Investor Place Blogs as an official registrar for voting through Marketocracy's Investment Research Rating service. Registered members of InvestorPlace Blogs are linked with a Marketocracy account to establish voting power based on their performance of trading and posting on stocks.
Well, while every one got a nice boost today, mine went up only 1%. This is because i expected the FED to increase the rate by 0.25% and the market to start going on a downward path. Today morning i bought some ETFs that short stocks. Alas, the FED's unexpected action has crushed the short sellers and short ETFs. I lost out big for this reason. I should have waited for the FED action and then acted. I didn't mean to profit ahead of others when i bought the short ETFs today morning. I just happen to have lot of free time yesterday night which i have spent on thinking of a new strategy for my lagging portfolio. I believed that the FED will increase the rates by just 0.25% which will not satify the investors and there will be lot of negative current in the market. All this proved wrong for the moment. The quarterly report of LEH surprised a lot of people including me. I was thinking that all these big investment banks will report very bad results with revenues falling by 40%. Now it seems that things are not that bad. May be i have to change my perception of the business / market conditions. I will closely watch the economic news coming out in the next few days and play the market accordingly. As i have reported in my previous post, i am going to do active trading (good bye to buy and hold policy). But i am not going to sell the losers quickly. I will give them time to come back. With a NAV of 9.4 i am now not even looking forward to finish in the top 100. I just want to improve my game. The experiences i learn will be valuable for future games :) | ||
