I have not taken a loss on BYSD yet, I stated my position is down 50% from the entry and the reason I am still in is that company is turning a profit. Anyway you can stay long ECIG, that is your choice.
Experience however makes me cautious not seeing significant improvement in financial strength that the down side risk is stronger than the upside potential at this point and I am cutting my risk exposure here. This is not a contest of who is right or wrong. What matters is managing risk if you expect to be profitable in the long term. ECIG share price will not be impacted by my small 100,000 share sell. I am just stating what I did and why.
I traded ECIG one other time and exited with a 104% gain before the R/S. Had I held into that uncertainty I would have been absolutely gutted. Making a small loss on my second ECIG trade doesn't bother me much. It is impossible for me to win every trade and I accept that.
If you don't like what I say, you have that right to state it, which you have and I respect your opinion. I trade full time for a living, mainly currencies for a hedge fund by the way. Are you a professional trader as well?
I try to find one or two small diamonds in the rough that I trade in my IRA. Right now I had ECIG and BYSD in the portfolio but I cut ECIG until their balance sheet shows more stability. There is risk in any small company though and you must be willing to accept you could lose your entire investment.
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