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  • con_law_misery con_law_misery May 24, 2010 5:18 PM Flag

    Guys any advice?

    I am now down 42% since 2007... getting worse and worse. My cash settles Wednesday from a Friday trade where I bought FAZ at 16, stopped out at 15.20, now back to 16.40 already. That alone took me from down 39% to 42%.
    So should I just give up at the game before I lose 100%? Other possibilities are 100% all in VG, CXM, JAV, or BBI and just PRAY, I mean, PRAY for something good to happen.

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    • Maybe mirror some of T4Ns or T4P's trades...

      I play contrarian biotechs and have been doing quite well on those, but they are more swingtrades (few weeks to months)

      g

      • 1 Reply to gambler2075
      • gambler..thanks for the vote of confidence:)..however things have been abit rough on this end lately..glad to hear you been doing well in this mess..con-law I replied with a fairly lengthy response to you a few weeks back but I can't find it and never got a response..I do remember though that one of my main points was if your ultimate goal is to only break even then I'd hang it up now and not waste anymore money or time..but if you really want to give it a shot then it is time to learn from your mistakes one at a time..none of us are perfect and losses will occur alot..you just have to "hope" the winners can out weigh the losers..Any money lost and mistakes made need to be considered the cost of education imo..There are winners out there even in this market..look at RPC yesterday..hit 1.05 in the morning and then rallied to 1.42..darn close to the dt line I meantioned a few times..that was a 35% intraday move..you can't hope to get the whole 35% but 10% would have been an easy trade if it was bought when it broke 1.24..anyways take a look at RPC right now with earnings that blew out of the way and the market down over 200..it's flat on the session..why?..because contact news is expected out of India..Mgt has been there since the 20th and are leaving today..check a 3 month chart and tell me what happens if they land a deal?..check the trend line off the 2.59 and 1.75 peaks..what happens if it breaks that line right around 1.50?..no news this week and no doubt it goes back under a buck but if there is news this will be a real good play imo..if not you take the hit and wait for the next one to set up..blah blah blah..lol..at the moment this is the best I have with a couple others on radar..The best advise I could give you that I seldom follow myself:) would be to sit tight until you think you have found one where the odds are well in your favor..out of time for now..glty

 
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