Monday, September 17, 2018

Cut loss in Bureau of CORrections! BCOR!

Most traders make fun on this stock they called it "Bureau of CORrections". I bought this stock without any plan. It's just happened that this stock is number 1 top loser. I am thinking possible bounce in the morning next day . I bought this stock last September 10, 2018 at the price of 2.50. 

Following day, from the opening I noticed that the seller are more than the buyer and the RSI 30 break. It gives me sign to cut right away specially my cut loss point is 1% to 3%. I don't have any reason to hold on to this stock and wait for the price to recover. 

The moment I sold all my shares in BCOR stock I never look back. But after 2 following days I checked it out because BCOR stock are number 1 top loser again. This is the time where I realized If I hold this stock from 2.50 down to 2.02 dated September 14,2018 I will lose 19.19%. 

Basically we're saying that this stock as we can see is a free fall day by day losses. There is nothing wrong to cut our losses not all the time we are winner in our trading journey we must accept sometimes we must loss. In trading world cut loss is a normal thing to do as a trader and investor specially in free fall stock and downtrend stock. Psychologically cutting loses is a mature thinking of being an investor and a trader.

From the moment we cut we must move on and find another stock for us to jump in different level. Always trade with a plan.

Date of Buying: September 10, 2018. 
Buying Price: 2.5
Selling Price : 2.44
Gain Profit/Loss  : -3.56%
Reason For Buying: For quick play/ no plan
Reason for Selling: Hit my cut loss point
Holding Period: 1 Trading Day

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