Friday, January 15, 2010

Carnage Review

OK! What has to be done has to be done. Just as one celebrates the spoils of war at the end of a victory, one must assess the damage at the end of a defeat. I will just state the facts. Here is how my portfolio fared today.

NEP down 3.11%
SWC down 0.88%
SBIB down 2.04% (from the price I bought today)
WYNN down 2.33%

Overall account - down ~ 2.25% today.

In the last couple of months, my account has gone up over 60% with no losing week which makes this day kinda hard to take. In this time, most of my losses have been around the 1% mark, so that means I haven't been exposed to losses of this magnitude for a long time. Whose fault was Today? I can think of three factors - Me, me and me!!

I might have still been able to sneak in a positive week, but I will have to do the math for that. More on that during the weekend!

How did you fare today?

Update: I just wanted to share with you readers an interesting habit of mine. I always go out and "celebrate" a decent down day!! And never a big profit day. It helps me put profits and losses in perspective.
With losses - I trade with money I can afford to lose. I can still party!
With profits - The market giveth, the market taketh. Stay humble.


Keith said...

Good to hear you can admit the losses. I'm tired of people bragging about their big winners, but never mention a loss. What a joke!

I don't know about the whole celebrating losses, but whatever works for you, lol. I'd celebrate my wins humbly and learn a lesson and forget my losses.

positiontrader said...

Thanks Keith! My aim with this blog is to improve as a trader. (If somebody else also learns along the way, even better!) I am not providing any services, so I dont aim to make money through this blog. So, I have no problems admitting losses.

I dont know if you noticed but since yesterday, I started providing regular updates on my emotions after entering my emotions. I thought it would be nice to analyze how I responded to profits and losses.

(On celebrating losses) Like I said, it just makes me realize that life goes on and tomorrow is another day :)

Hope you had a better day than me!