Two new trades to speak of, beyond the trade in Bed Bath & Beyond this morning, with Diamond Offshore Drilling (DO) at $73.36 and Armour Residential at $7.70. I also picked up a couple of trades in SSO – the Ultra 2x Long of the S&P as I bought on extreme negative tick readings earlier this morning.
LONG: Armour Residential REIT (ARR)
LONG: Diamond Offshore Drilling (DO)
Welcome to Swing Trading the Stock Market Podcast!
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Commit these three rules to memory and to your trading:
#1: Manage the RISK ALWAYS!
#2: Keep the Losses Small
#3: Do #1 & #2 and the profits will take care of themselves.
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Refusing to take a loss when the trade has turned, and the reason for getting into the trade in the first place is no longer valid, is one of the biggest problems traders face. In this video, Ryan Mallory discusses the pitfalls that comes with refusing to take the loss and instead opting to become a bagholder on one's trades.
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