Week of 5/16/16
This week was pretty awesome, mistakes were made, but that’s just unavoidable. Here are this week’s trades:
- MGT: $76
- I talked about this stock in the Midweek review so I won’t get into the details as to why this stock did so well; however, I will talk about why I didn’t take advantage of it. The simple answer is that I got scared, I got scared that a stock that started out at $.49 a week ago (I traded it on Monday) could not possibly go past the $3 mark without plummeting like a ton of bricks (which it did, two days later). Now, I am ok with making mistakes that cost me “potential” profit more than I am ok with losing actual cash, but this specific trade hurt me more than it should have because I had a very strong gut feeling that it would keep going up until Tuesday morning. But I let fear overtake my gut feeling, along with my rationale, and took any profit I could. This is clearly the hardest part about trading, but it can only get better with time, as we all know, the more exposure you have to something the better equipped you are when dealing with it at a future time.
- CLRB: $417
Mistakes and all, I’m very happy with how this week played out and can’t wait to see what next week is like 🙂