April Results + $95.06 (4k less than my average :)
Yes, there's only two closed trades in April for me. Man, that green long bar looks impressive until you realize it's only $100ish. Both of those trades finished around even and were held for maybe 1-2 months. I broke my rules for mental stop losses. Maybe its time for me to set up actual stop losses and not mental ones. If I'm not better at exiting according to my stop loss rules and overall rules I may.
My cash was all used up so it was either take losses on holdings (which I didn't want to do because they still had reasons to come back (and 2 did and I still think ELTP and IDRA will be fine)), and then re-invest, or wait it out. I chose to wait it out.
Remember, I'm not against taking losses when the situation has changed, but otherwise, I'll do whatever I can not to take a loss. It's not an ego thing, its a gains thing. Again, I'm in this to make money and any loss needs 2x as much to make a gain. Example: -$1,000 loss = a $1,000 gain to get back to even, then another $1,000 to make a nice profit.
I'm going to re-visit my rules and post them for later. I find that when I'm charting and watching, I'm still seeing good setups and cash to be made. I haven't lost faith or confidence (only a little).
It was a rollercoaster month for me in which I was down $14k in my holdings, only to scratch back to down $3k, and then my problem child SYN abrupted. Then back to $11k down.
I am still holding ELTP (down 6%), IDRA (down 19%). I am hoping to make $3,000 on ELTP, and break even on IDRA (or a very small loss). Right now, I'm sitting on my SYN loss. If it goes down, and it makes sense, I'll average down (probably double) and it'll be cheaper to afford at the lower $1 levels. If it goes up, that's cool too.
Been a rough month for those of us trading Bios. I still am looking to trade Bios and then others of course too. Will be looking to finally start trading options again. Will follow my charts and also check in with Smurf and AZY on charts with possible fast setups. I have a lot of good charts to post about the Bio sector and the overall markets and possible directions, stay tuned.
Let's keep watching out for each other and posting any info that we know others here are holding. I'm still having a lot of problems with my spine and that keeps me from posting a lot, but we all have our issues/distractions to deal with.
Thanks hesse for a few of the latest postings of ones that I've been watching.
May the Fourth (and the rest of May) be with all of us this month.
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