Nice short on $VSCP. Saw it had run up and was a bit overextended so I took a small short for a nice gain.
VSCP biggest loss to date. This stock caught me off guard, I violated one of my biggest rules which is don't short day 1 runners. I shorted this one early premarket and it ran hard against me. Instead of cutting my loss early, I held and held and I finally cut the loss there at 5. I think it ran to 6.50. I was afraid it would blow up my account. This are those big losses that you want to eliminate. You want big wins, little wins, and little losses. This is what kills traders.
stupid, stupid stupid move. no logic why I bought, i was hoping it would spike up to $5 like it did last week. then when it tanked I tried selling, but volume was only in the 426,000, couldnt find buyers anywhere. sold this morning remembering rule 1, cut losses quickly. No news stalled this sell from doing anything.
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