Tuesday, February 19, 2008

Betwixt And Between

My wife and daughter are away for the day. So I'm making this really short so I can get some guilt-free reading time in.

My best stock of the day was a complete mistake. That pretty much sums up my day. I accidentally held 100 shares of CNX into the close Friday, so I sold them at the open and made a little over a point and a half.

I'm in the midst of working on a couple of new things. I'm not going to get into them too much right now. On one hand, I plan on watching fewer stocks actively and taking larger positions in them. On the other, I also plan on taking some "light" positions in others, giving them wide berth and letting them move throughout the day.

In short, I'm trying to develop more of a trading strategy. I want to enter each day with more of a gameplan. It will be more research dependent and less "trading actively like a lunatic during the day" dependent.

This partly explains the lack of posts recently. I'm busy.

Here's the stats:

P&L, -$423
Best, CNX, $157
Worst, MON, -$240

32,100 shares traded.
14 stocks traded. 5 winners, 9 losers.


tapeworm said...

i wish u luck, but haven't u become a very rich man by trading like a lunatic?

u have a long track record, so i'm sure you'll succeed no matter what path u take

Dinosaur Trader said...


Thanks for the encouragement.

You know, last year I did make 6 digits, but a closer look shows that I made most of that money in a 3 weeks span at the end of July and the beginning of August. Like, well over half.

That means for the rest of the year, I was basically churning and losing money. When I was good, I was making a little money every day and having the occasional big day. Not only is that kind of win loss record less stressful, it's much more enjoyable.

So, I'm trying something a little new as a supplement to what I'm doing. If it works, I'll slowly do less "lunatic" trading.


tapeworm said...

last year was also your worst year...most of us aspire to be where u r, so keep it up man!