My biggest challenge is that I don’t have a system.
I look at the news and follow Stocktwits for instance.
Further on I check the earnings dates and look at P/E.
And last I follow my gut feelings.
So it’s some kind of a system but a very bad one.
I want to learn a trading system on which my risk is managed.
One of the things is when to get out of a stock.
I’m holding a stock called Nortech systems.
As I started it want up (in one day) real quick, so I bought shares.
The volume was good.
As it dropped I bought more shares to get a lower overall price.
Now I’m stuck with this as the price has gone from my my price of 5,10 to 3,94.
And the volume is almost non-existing.
As I’ve bought more shares this stock is about 40% om my total trading money (total is 25k dollar)
So I lost allot of virtual money on this one.
There are a few reasons I still own the stock.
– The fundamentals are looking good.
– I don’t want to sell because I loose about 3000 dollar which is more than 10% of my trading power.
– (this is a stupid one) I saw that Renaissance has allot of money in this stock.
As you can see my strategy is very poor.
Thank you for your help.
With kind regards,
You don’t need:
P/E, gut, news, earnings dates.
Those are dead ends.
Start here: www.trendfollowing.com/faqs