ZN Trade on Feb 13, 2018 13:51 from Dr_G: Tradervue User Stock Trades.

This loss on ZN should have never happened... stupid rookie mistake... I went in too big too early.. I say early in retrospect here. In my defense, the stock was trading at some pretty solid resistance on multiyear on a weak bullishit pr regarding possibly finding oil. The company has been looking for oil in Israel for 26 years and haven't found shit.. they use religion, newsletters, pastors, YouTube videos and God talk to scam investors out of there money. I got over confident and there was no excuse for a 10k share position, even though I have the capital for that position, even though if the stock goes to 6+ I can handle the unrealized loss. It was simply stupid! I have had a great run the past 3-4 months and that was just simple, stupid overconfidence..**NO PLACE FOR IT IN TRADING**. I should not have been in more that 3k shares period!
Now the stock is acting sticky and consolidating at $4 area forming a bullish pennant Chart formation on the 60 min looking like it's going to breakout (I saw similar breakouts in MOSY and ITUS when I thought they were about to crack lower)... so unlike in the past where I held a big position, waited to see what happens, the stock breaks out just like my gut told me it would, I cannot add because too much buying power is used up from the large position and although I am not scared, I'm pissed, because now, I'm holding a low average, I have to sit there and wait for the stock to come back down, pay a lot in overnight fees for probably a couple of weeks till the stock dies. Even if I actually make money, it's a wash or loss because of holding costs (stock loan/ overnight fees) and it's actually a bigger unrealized loss because I could not manage the position correctly and average up, missing out on potential bigger profits. Furthermore, I could not participate in other potential opportunities while I waited for ZN to play out, because I have too much buying power tied up in a large position, which creates an even bigger unrealized loss on potential gains I missed out on with other plays. SO, basically all around there is more to lose from a large position than to gain..sometimes it works out in your favor, but more times than others it goes against you in the ways I described. Sometimes people go in big for a quick flip on a small spread and get stuck because the stock goes against them. What started as a trade ends up being an investment, because now you have to hold and wait for things to go your way.
This time round, in an effort to be a better listener to myself and adapt to a stupid trade I made, I trimmed the position, took what I consider an inexcusable small loss, being safe and minimizing exposure to a potential stock move higher, maximizing opportunity and gains by potentially increasing the position size short again at a higher price.
In the past,even when I saw a bullish set up.. I was too proud to take a loss, so I rode it out,only to miss out on profits...a lot of times, I did not lose, but it's a losing strategy.
If you see a bullish set up slowly confirming and you have a loss, it's not a bad idea to trim the position for a loss, or even close it all. You can easily make up and get in short higher. In a case where you have a gain, lock it, be safe and wait to see if the bullish pattern plays out... The most common bullish patterns that I have experienced are Bull-flag, Cup and Handle, Pennant and Ascending triangle.

2-20-2018 Update Yet another stupid choice.. I'm on a roll aparently... added 2k shares short at support 3.93.. Freakin Genius..NOT... thinking that support was going to crack.... FOMO again forced the trade because I did not want to miss out on the drop.... but as usual..when you don't listen to your gut, you get screwed..the stock popped to 4.5+ out of the pennant.. what I said was going to happen did, but on a smaller scale than I thought.. it would have been prudent to short resistance in that area and add to my position there.. obviously!!! .. so not sure where all the brain farts are coming from.. must be boredom .. lack of action.. I am way more focused when more is happening.. regardless.. no excuse !!.. this behavior needs to be modified and remembered and remedied.
Anyway.. no adds until 5.25, 6 and close to 7.. no matter what.. and if the stock tanks, I may get even after fees.. No money to be made here, just saving my pride and losses... unfortunately this is an uncomfortable position to put yourself in. At least over $5 the buying power is waaaay lower and equal to the purchase size.. under $5 its the cost of the purchase + 2.5X that value so 1k shares at $4 = -$14000 in buying power lost. That's the way brokers protect themselves with these volatile stocks when they extend margin and the stock moves against you... Until the next update... let's see if we get a Friday sell off with no news.. I'm out at 3.4, maybe 3.2 with no news. If there is new of no Oil.. I'm waiting till sub 3 IF it comes soon and depending on hold fees. 1 week max hold in that case.