Stock Traders Blog

I found I held positions over night frequently in the past couple of weeks. For a period of time I just hate to hold position over night especially for short positions and I usually took profit or loss at the end of a trading day. Usually when I took loss it was not considered big. I did extremely well for that period of time though. I guess holding position over night means something to me. It probably means I didn’t get a sense of the market. I have no confidence about closing a losing position and recovering the loss subsequently. So I am asking myself the question “am I a stock trader or stock holder”.

I am still holding Bank of America. The longer I hold a position the more I doubt about it. It is the third day I am holding my 2000 shares of Bank of America at average $12.50. I saw the chance of closing out the position with a profit this morning but I didn’t do it because I was hopping for more. However I couldn’t resist my doubt on holding 2000 shares of Patriot Coal. I sold it early in the morning at $6.25 only to see it raised above $6.45. At the time I sold it I was hopping to get it back at a lower price. Like I said I didn’t get a feel of the market and again probably I act too early in a trading day.

Anyhow I decreased my long position buy selling PCX and I am not using any margin now. My account was up about one thousand at today’s close but it is still down more than one thousand dollars from my initial capital.

Account Balance Changes: +$1069.63

Related posts:

1. Trader’s Mind is Full of Dilemma – My Thought Gone Wild With Bank of America
2. I am Convinced to Long Bank of America
3. I Have Too Many IFs in My Mind
4. Too Much Selling Pressure on Bank of America
5. I Start Feeling Panicking