I made probably the worst mistake to date in my learning and trading journey. So I figured what would be the best way to hold myself accountable. That would be by writing a blog post and owning up to this mistake.
On October 15th, I purchased 2500 shares of $DSGT for $0.28. Before the end of the day, I sold off 1500 shares and I had chased that initial buy price as I thought based on news catalyst that it was going to soar much higher. I thought because I hadn't sold off all of my shares that it would not be considered a day trade and wouldn't count against the PDT rule for me. But I was wrong and just realized it this week when I did it again on November 18th by purchasing 20000 shares of $BRTXQ (now $BRTX). So now I was holding onto two stocks overnight but had sold off a portion during the day that I bought it and I was about stuck since I had also purchased and sold another stock earlier in the week.
First of all, I didn't adhere to Tim's #1 rule of cutting losses quickly which is what I should have done with $DSGT -- I sold off my remaining shares today for about a 24% loss. $BRTX, I had planned to hold until the next morning and sell as I anticipated the rise to just over $0.30, but I couldn't get in to sell it. Thinking it wasn't going to affect my PDT I held onto it until through the day yesterday and am still holding it as I don't want to get my account suspended for 90 days, so I will wait until next week when I can make another trade and sell off $BRTX. Maybe it will go up a little bit, maybe not. It's about a 30% loss right now!
You live and you learn!!! I have a lot of learning yet to do. It has not been a stellar week for me overall, but I can't believe I held overnight thinking by only selling a portion of my shares that it wouldn't affect PDT for me. But apparently, I was using the stupid part of my brain to come up with that logic!!
There is something that I didn't get though. As long as I know when you buy a stock the one day and want to sell the next day it does not count as a DAY TRADE so if you bought $BRTX on the 18th you easily could've sold it yesterday or today
@Rivas I sold part of it on the same day. Sure, I could have held it all, but I wasn't able to sell at just over $0.30 the next morning when I had planned to sell the rest.
Blogging our mistakes helps a lot! It sucks to relive it while it still hurts, but later it is helpful to look back on it to reinforce the lesson. It helps others learn too. Good job documenting it. Be proud of that.
@LibertyBelle Thank you! I knew it was the only way to truly make myself accountable!
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