As Web's World Turns

[Websman]

Update on my present positions... 9/08/05

1. ELN - Bought at $6.88. Closing price today was $9.25

2. PDC - Bought at $14.25. Closing price today was $15.28

3. AOB - Bought at $4.30. Closing price today was $4.34

Sold OFG for a very small profit. (3%) It hit my mental stop point. I'll try for another entry later.

Bought AOB today at $4.30.

[Websman]

I was wondering if I should keep posting my trades. I don't mind putting my trades here for the world to see, as long as someone is getting something out of it.

How about it? Do you guys think I should keep putting my Vulcan reputation on the line by posting my trades and letting everyone see my success and failures? Let me know.

[dmk112]

I was wondering if I should keep posting my trades. I don't mind putting my trades here for the world to see, as long as someone is getting something out of it.

How about it? Do you guys think I should keep putting my Vulcan reputation on the line by posting my trades and letting everyone see my success and failures? Let me know.

Sure I like to see how the vulcan is doing compare to the human once in a while...

[billyjoe]

Webs,
Keep posting. We can always learn something new.


billyjoe

[jiesen]

Sure, Webs. We all like to see how each other are doing. Probably you'll get the most out of it, too, since doing this keeps you honest. You can always look back at your track record and see where you went wrong/right. I was just doing this today with some of my old postings. Also, I post here to get feedback from others who have different views, and can point me in alternate directions I might not have considered otherwise. NBB has been especially generous in this regard.

I think most of the discussions here benefit everyone to some extent. And the more the better!

[dmk112]

RE AOB - Poormans stock of the week? the price you picked it up at his p/b price if I may ask...

[Websman]

RE AOB - Poormans stock of the week? the price you picked it up at his p/b price if I may ask...

I got it at $4.30, which was below Poormans p/b price. Poorman's model bought at $4.39.

I had my original order in for $4.38, but canceled it when I saw the futures down before the market open. I don't have access to a computer at work, but Etrade has a great phone service that gives you quotes and lets you place orders. I kept a watch on AOB's price all day, until I found an acceptable buy point and placed my order with my cell phone. Therefore, I got a better price than the Poormans model did.

Logic told me that AOB would drop lower with the market. That's why I bought it in this manner and it worked...as long as it doesn't continue down tomorrow. I'll set a stop limit just in case it goes the wrong way.

[dmk112]

Did Etrade charge you extra for ordering over the phone?

[Websman]

Did Etrade charge you extra for ordering over the phone?

No, but it wouldn't let me place a limit order. I had to go with a market price, which is always higher.

[dmk112]

I'm thinking of switchin out of scottrade, i'm considering etrade.

[Websman]

I'm thinking of switchin out of scottrade, i'm considering etrade.

I like Etrade. It works great for an amatuer like me. I've never had a problem with orders getting filled on time. They offer a 2 second guarantee.

If I were daytrading though, I'd switch to Interactive brokers.

[Websman]

Today, I did one of the most illogical and dumbest things imaginable. I mean, what I did was totally illiogical and made no sense whatsoever.

Here's the story. I'm going to tell it, but don't laugh too hard... I had originally bought AOB at $4.30, which was cool. Later on in the day, I checked the charts and decided to set a limit order to buy more shares of AOB at $4.15, in case it filled the gap.

This, was logical because it would give me more shares at a lower average price. I don't usually average down, but I felt it was a good idea this time, because this is a promising stock. So everything is cool. I have shares at 4.30 and may get more shares at 4.15.

So here goes the dumb part of the story... I went to bed, feeling good about my trades. I wake up this morning and think to myself, "Hey, you didn't set a stop limit on on AOB!". So I get up, still in a drowsy state of mind, and figure a limit order for my $4.30 trade. Since my stop limit range is usually between 5 to 10%, I decided to go conservative and set a 5% stop at $4.08.

DOH! What about the $4.15 buy order! I forgot about it! I had to get to work. I was in a hurry! So here's what happened... AOB opened at $4.35, but then it headed straight down, triggering my $4.15 buy order. Cool, I have more shares! But then, it continues down and hits my $4.08 stop!

So, I'm still in the trade, but have lost a few pennies, plus I've paid unneccessary commisisons. Etrade must love me! I'm a Vulcan idiot!!! Totally illogical!!!

I still feel as though I will make this a profitable trade, but I now have a deeper hole to dig out of. DOH!

Anyone else want to admit to a stupid mistake?

[dmk112]

Today, I did one of the most illogical and dumbest things imaginable. I mean, what I did was totally illiogical and made no sense whatsoever.

Here's the story. I'm going to tell it, but don't laugh too hard... I had originally bought AOB at $4.30, which was cool. Later on in the day, I checked the charts and decided to set a limit order to buy more shares of AOB at $4.15, in case it filled the gap.

This, was logical because it would give me more shares at a lower average price. I don't usually average down, but I felt it was a good idea this time, because this is a promising stock. So everything is cool. I have shares at 4.30 and may get more shares at 4.15.

So here goes the dumb part of the story... I went to bed, feeling good about my trades. I wake up this morning and think to myself, "Hey, you didn't set a stop limit on on AOB!". So I get up, still in a drowsy state of mind, and figure a limit order for my $4.30 trade. Since my stop limit range is usually between 5 to 10%, I decided to go conservative and set a 5% stop at $4.08.

DOH! What about the $4.15 buy order! I forgot about it! I had to get to work. I was in a hurry! So here's what happened... AOB opened at $4.35, but then it headed straight down, triggering my $4.15 buy order. Cool, I have more shares! But then, it continues down and hits my $4.08 stop!

So, I'm still in the trade, but have lost a few pennies, plus I've paid unneccessary commisisons. Etrade must love me! I'm a Vulcan idiot!!! Totally illogical!!!

I still feel as though I will make this a profitable trade, but I now have a deeper hole to dig out of. DOH!

Anyone else want to admit to a stupid mistake?

That's pretty funny...ehhe I've done a stupid mistake in the past with a stock by mixing up what a limit/stop limit/stop order meant... it gets confusing at times!

I remember I bought a stock for 24.10 which was basically its bottom as it's low was 24 and it finished the day @ 25 or so. At the end of the day I set my stop and this time I wanted to set a stop for day + extended hours trading (Spike gave me this idea when he was talking aboug King's ELN disaster). So instead of setting a stop limit order I set a Limit order at 24.00 which basically was a market order since the stock was already above that price. I click on submit and then go back to my status page and see that the order isn't there...until I go to the completed order page where I sold the stock @ 24.40 (crappy price b/c it was AH) I was so pissed! the stock went to 34 in a few weeks....

[jiesen]

Today, I did one of the most illogical and dumbest things imaginable. I mean, what I did was totally illiogical and made no sense whatsoever.

Here's the story. I'm going to tell it, but don't laugh too hard... I had originally bought AOB at $4.30, which was cool. Later on in the day, I checked the charts and decided to set a limit order to buy more shares of AOB at $4.15, in case it filled the gap.

This, was logical because it would give me more shares at a lower average price. I don't usually average down, but I felt it was a good idea this time, because this is a promising stock. So everything is cool. I have shares at 4.30 and may get more shares at 4.15.

So here goes the dumb part of the story... I went to bed, feeling good about my trades. I wake up this morning and think to myself, "Hey, you didn't set a stop limit on on AOB!". So I get up, still in a drowsy state of mind, and figure a limit order for my $4.30 trade. Since my stop limit range is usually between 5 to 10%, I decided to go conservative and set a 5% stop at $4.08.

DOH! What about the $4.15 buy order! I forgot about it! I had to get to work. I was in a hurry! So here's what happened... AOB opened at $4.35, but then it headed straight down, triggering my $4.15 buy order. Cool, I have more shares! But then, it continues down and hits my $4.08 stop!

So, I'm still in the trade, but have lost a few pennies, plus I've paid unneccessary commisisons. Etrade must love me! I'm a Vulcan idiot!!! Totally illogical!!!

I still feel as though I will make this a profitable trade, but I now have a deeper hole to dig out of. DOH!

Anyone else want to admit to a stupid mistake?

Sure, here's a good one. I've been holding onto my MSPD ever since the spinoff from CNXT. I knew it was overvalued at $10 but didn't sell it because I didn't want to pay taxes on the gain, so I figured I'd just hold onto it; that if it can go to 10, why not 20? Sheesh, what an idiot I am for that. I'm going to try to ignore tax consequences of my trades going forward, and just deal with them when they happen.

Here's another dumb move of mine: doubling up on BEL not once, but twice, at $7 then again at $4. I guess the jury is still out on that one, but my gut says I'd have been better off just leaving it alone. Come to think of it, I've done the same with PRX, adding more after it fell to $60, then doubling up around $40. I must rethink my strategy when it comes to adding more to an underwater position.

[dmk112]

Sure, here's a good one. I've been holding onto my MSPD ever since the spinoff from CNXT. I knew it was overvalued at $10 but didn't sell it because I didn't want to pay taxes on the gain, so I figured I'd just hold onto it; that if it can go to 10, why not 20? Sheesh, what an idiot I am for that. I'm going to try to ignore tax consequences of my trades going forward, and just deal with them when they happen.

Here's another dumb move of mine: doubling up on BEL not once, but twice, at $7 then again at $4. I guess the jury is still out on that one, but my gut says I'd have been better off just leaving it alone. Come to think of it, I've done the same with PRX, adding more after it fell to $60, then doubling up around $40. I must rethink my strategy when it comes to adding more to an underwater position.

Yea averagining down is risky but it can pay off also. You just have to treat the average down as a seperate position.