Thursday I stopped out of a losing trade, it was a disappointing day to say the least. Losing from time to time is a part of trading.
The good news, we win more than we lose at Jason Bond Picks so instead of wallowing in Thursday’s loss, I got right back on the horse as I always do with my nightly wrap up and scan for the next day, in this case Friday.
Before covering Friday’s potential trades I said…
“TEACHABLE MOMENT – after a loss or a round of frustrating trades, much like I’ve had in the last week, the worst thing you can do is force trades to try and make your money back. Instead, apply the principles of the strategy and let the trades come to you. Forcing trades will only make matters worse. Remember, controlling emotions is a big part of successful trading. If the strategy works, the money will follow.”
I went on to cover 5 stocks between $1 and $5 I was looking to trade Friday. Here’s what was said Thursday night about OCZ, which I later alerted as a buy Friday morning and a sell Friday afternoon. The stock was up over 20% on the day on over 10,000,000 volume.
“OCZ – Only if you’re willing to take on some added risk, because old filings are due to be released soon and could knock the stock down. I’m starting to think the old filings, regardless of the numbers, is baked into the cake. I’m considering a speculative position above $2 Friday looking for a short squeeze before the weekend. Might be a trade we’re in, then back out of same day, we’ll just have to see.”
“Thanks for OCZ guys! I just sold my 5,000 shares at $3.30.” ~ James C.
“Out of OCZ @ $2.35.” ~ Labat L.
“Out at $2.35! JB…you’re my HERO!!!!” ~Linda P.
“I’m a 50 year old heavy highway construction worker and I just made more money off of OCZ in 3 hours than I do shoveling 315 degree asphalt all day. And I didn’t burn my feet, I see a career change in my future. THANK YOU for teaching Jason.” ~ Scott S.
“$1,600 OCZ thanx JB, my real first trade with u.” ~ Lenny S.
“I too made more than a full work day on OCZ today.” ~ Jordan L.
“Out OCZ +$.27 thanks guys.” ~ Sean B.
“Out OCZ +$.28 thanks Jay.” ~ Johnny H.
“Out OCZ again +$1,679 total, wow thx guys…needed that.. lost confidence yesterday on the metals.” ~ Mike J.
“Out OCZ for $.31.” ~ Kevin P.
“Out OCZ…thank you guys…great trade!” ~ Joe N.
“Out 2,412 shares of OCZ $2.38 in at $2.13 +$.25 or $603 thanks JB.” Michael L.
“Monster call brother! Took 13% on that killer call. In at $2.13 out at $2.41.” ~ Ben R.