Sold ACLS @ 42.5 Cents For An 18% Loss
By admin on May 12, 2009 in sells
This is my biggest loss of the year, I just sold ACLS at 42.5 cents for an 18% loss. Unfortunately this much more than wipes out the 44% gain I made on FTBK because I had a lot more money in ACLS.
A lot of things went wrong with this pick. First of all I bought it at 51.8 cents instead of my initial entry point of 48 cents. If I had got in at 48 cents I would have lost only 11% instead of 18%.
Since this trade was made with my Ameritrade account, I won’t have access to the money from this sale for awhile so now I’m stuck with SogoTrade (which means I can only look at stocks over $1 and I have a lot less money to play with.)
I should have cut this one earlier.
This is the opposite of my other lesson of holding on longer. Ah and this is why trading stocks is so difficult! It’s so easy to hold & sell the wrong stocks.
admin | May 12, 2009 | Reply
I want to reiterate that I should have cut this much quicker. Bad bad trade. I’m still mad at myself over this trade.
admin | May 15, 2009 | Reply