Trading Control

[DTGoody]

Nice Board!! Here's one I would like to share with the board; I bought 10K of DCUT last Monday at .095 and then I bought 10K more at .10 as I thought the seller was gone and the stock started back up. The chart was screaming "Oversold!" DCUT closed down around .09 on Monday night. On Tuesday it fell to .08 and I bought 15.5 K more as I thought that .08 was the absolute bottom! Wrong, they closed it down around .075! On Wednesday they took it back up to .09 in the morning and I felt great! A couple of hours later it was back to .073 on the bid and it closed at .073. I felt terrible because I didn't get out at .085 earlier in the day! Being down for three days I decided to sell first thing Thursday morning to stop any further loss! I dumped all 35,500 shares at .073 for a $700 loss only to have the stock close up to .077 on Thursday. Friday it ran to .109 at the high! What did I do wrong?

I watched every tic on the ticker! That was my first mistake! The MM's were able to break me down and shook me out even though I knew that DCUT was extremely oversold! Had I just shut the computer down for 1 day and gotten away from it DCUT would have been an excellent trade for me instead of a bad one. I knew better than to sell but with so much riding on it I was shaken out! My original target for DCUT was .15 cents, but I bet it blows right past that next week. I guess it happens to the best of us. I'm not upset or mad about this as I used this as a learning experience. As far as the $700 I will make that back in a week or two on something else.