Wow 28 grand, very nice, my best day so far was
with that first run in General Magic, I had a lot
of shares with a basis under $2 and made around $20k
--that's after all the trades in it were totaled up
and the commissions taken out.
I hate to think about all the mistakes I have made this
year but one was selling that GMGC at $4 1/2, at the very
least I should have logged on and watched the one-minute
chart that day and I could have had quite a bit more, maybe
getting out closer to the intraday high. I guess I was so
excited I just sold as soon as I saw the price, newbie mistake.
My largest loss, or my biggest mistake: I figure I have
lost about $20,000 in missed gains this year from sleeping
through the first hour or so of trading--I like to sleep in,
and if you're out here on the West Coast, that's pretty easy
to do.
I don't have any really huge losses yet, I try to start
averaging out as soon as something starts going the wrong way.
Even in something that I think is an excellent find, I just
assume I'm wrong and start lightening up on shares as
I get closer to a 20% loss. I occasionally double down,
but since I try to go into a position in thirds, or at least
in two parts, maybe that is not really doubling down.
I guess my worst stock was the closed end fund FPF, First
Philippine Fund, lost two grand. But I had my wife play
the dead cat bounce in that, so we are even now with FPF.
I guess if you check my current portfolio, there are other
losers, but they are unrealized and unless I get a bit
past that 20% threshold I wont take any losses from those.
I suppose it is only a matter a time before
something I have just crashes, but bottom fishing
and value investing (what I think of as value)
seems to have prevented this happening yet.
On Tuesday I will find out how much being asleep at the
open cost me Friday--I could have had 100,000 shares of
MINE at a cost of less than 25cents apiece if I had been
up, as it is I got screwed and ended up with 30,000 at
3/8ths. If Golden Eagle runs to around a buck like I
expect, that nap will have cost me quite a lot!
Sorry, long post, but I should also say that I traded
MINE from an average cost of eight cents to around
14 cents, making about $8500, so if MINE goes down
Tuesday, I don't feel I'll be taking a loss, even tho
the trade could go sour. Still, I expect MINE will run
to at least a buck over the next few weeks.
Those are all my thots for now, it was fun bragging,
thanks! |
