I ended up buying more of that stock so that I was all in. I lost a percent on the new entry. I really did not have an answer as to what my best sizing was, had many more unanswered questions, felt safest to just sell everything. This selling might again prove to be the wrong thing to do.
I've not received many answer to questions I've asked regarding position sizing and risk management so am striking out more on my own. Van Tharp book Super Trader covers some of this, reading it now and will use this as a springboard for other reading and development. He offers a lot of training, seems to be a big neurolinguistics programmer kind of guy, success with which I remember as a high school ball player. He offers an $800 self study guide I am considering, will wait for now.
Elite trader forums also mentions several books on risk management and position sizing I will look to purchase used.
The more I learn, the more there is to learn.
Monday, February 15, 2010
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