September 23, 2014

Trade Recap - ASTY UPDATE

So here is a quick update post regarding my ASTY trade a few days ago. Turns out that ASTY was a POS like I thought and it did breakdown out of that consolidation area finally. It broke down so hard that it broke $4.50--basically down 40% from my short. :)


One takeaway from this stock is that I forgot to keep tabs on it. There have been several plays lately that have taken my attention. And once a stock starts consolidating, I tend to avoid the stock and look elsewhere for better opportunities.

I'm thinking that I should at least revisit stocks that I stopped out on in order to see if my original hypothesis is finally playing out. Actually, probably more often than not, I'm early on a trade. So I really should revisit stocks that I stopped out on and be ready to strike again because the stocks I short, especially OTC piece of crap stocks like ASTY, tend to behave as I predicted in the long run, and the rewards are huge with these type of stocks.

Anyhoo, I'm not upset, gotta stay motivated and focused. Dwelling on weaknesses can and will be toxic to my trading, and I recognize that. On the other hand, honestly and thoroughly analyzing trades ex post facto is essential to becoming a better trader.

Adios ladies and gentlemen,

Jory

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