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Hard Hit
Rating: 0.22 (9 votes)
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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. | ||
