It's not been a very good year
Dec. 14th, 2011 07:32 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
pyesetzMy stock-market trading hasn't been going too well. As of today, my account is down 16% for the year. Hopefully, at the end of the month there will be some "year in review" articles where I can find out how badly everyone else has been doing. Some say that this has been just a generally bad year for most traders, due to excessive interventions by the central banks of Europe and the USA which have caused the market to lack any clear "momentum". Meanwhile, I've been putting so much effort into the stock market that I've been slacking at my dayjob (Company 𝔾), so there has been little income from that and none from trading. Last year I refinanced my house; for now I have plenty of money for living expenses, but things need to improve next year or I'll be going bankrupt sometime in 2013.
So, things have been rather depressing for rather too many months now. Once in a blue moon, on days when things actually go sort of right-ish for a change, I like to post these charts:
Here we see a chart of the prices for TZA over the last few weeks. I bought near the end of the day on Nov. 30th, figuring I'd hold it for 2‒4 days as usual. But things went against me on Dec. 2nd. Then they went against me even further on Dec. 5th. Grasping at straws, I reached for the "38% retrace" rule which often works (when a stock makes a big move in one direction, it will often retrace about 38% of that move before continuing on). I told my broker to sell at $31.34. Days passed. More days passed. Today, my order finally went through! And then the stock immediately dropped back down after nosing my price! I ended up selling for 10% more than I paid. I had hoped for more, but at least it's a gain! Any port in a storm!!!
So, things have been rather depressing for rather too many months now. Once in a blue moon, on days when things actually go sort of right-ish for a change, I like to post these charts:
Here we see a chart of the prices for TZA over the last few weeks. I bought near the end of the day on Nov. 30th, figuring I'd hold it for 2‒4 days as usual. But things went against me on Dec. 2nd. Then they went against me even further on Dec. 5th. Grasping at straws, I reached for the "38% retrace" rule which often works (when a stock makes a big move in one direction, it will often retrace about 38% of that move before continuing on). I told my broker to sell at $31.34. Days passed. More days passed. Today, my order finally went through! And then the stock immediately dropped back down after nosing my price! I ended up selling for 10% more than I paid. I had hoped for more, but at least it's a gain! Any port in a storm!!!
