Finally made two late afternoon trades, the first of which is in Expedia (EXPE) at $25.59, and the other in Frontier Communications (FTR) at $8.80. I also managed to get out of the S&P UltraLong 2x (SSO) at $53.60, after having averaged down five times outside of my original buy-in. At one point, at the market lows, my portfolio was 60% SSO which you can only imagine provided quite a show in volatility. To say the least, I am glad not to be holding that position any longer.
LONG: Expedia (EXPE)
LONG: Frontier Communications (FTR)
Welcome to Swing Trading the Stock Market Podcast!
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#1: Manage the RISK ALWAYS!
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Refusing to take a loss when the trade has turned, and the reason for getting into the trade in the first place is no longer valid, is one of the biggest problems traders face.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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