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Hi Michael,
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,
Pieter W.
You don’t need:
P/E, gut, news, earnings dates.
Those are dead ends.
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