Incase you are incredibly lazy and didn't bother to read the above link: I exited the trade that I executed on the above mentioned blog post, dated August 25. With the long weekend, there have been 9 trading sessions since that play.
Aided along with a little patience/ignorance the sum result of my wild selection criteria produced a winner. All with minimal effort. The stock in question was PETS, which I started a small position in at a price of 18.10/share. When I say small, I mean 10% of the total amount of my portfolio I was willing to a lot. No more than 10% of my total portfolio is the limit I'm personally comfortable with and would have been willing to pursue. Unfortunately, because of a crazy schedule and distractions in general I left the position somewhat neglected. Had I been more vigilant I probably could have added to the position at a good price. I had a stop in place to buy 20% at 18.03 but it never hit that low after I bought the initial entry. More careful attention to the account would have allowed me to sell portions of the shares at a time, at a few prices, to try and maximize potential while protecting downside. On the other hand I certainly didn't stress about losing money!
Today I exited the trade at $19.10/share for a cool 5.5% gain. Again, if the position had been larger I could have sold a % today and let the rest ride. The good news is, my system gets a win. I use the term system quite loosely. I have some ideas to make things better but I'm happy with the outcome, especially for the amount of work I put in. Efficiency can be a lifestyle, you see.
More on position sizing from the best of the best.
KONEKT is coming tomorrow. Stay tuned for this incredibly exciting event!!
I Bless this Market!
48 minutes ago