Stopped Out of BAC at 5.32
As I wrote in my previous post (Bought 300 Shares of BAC at 5.60), I set a stop loss order on my BAC shares at 5.32.
Unfortunately, this trade didn’t work out for me and I was stopped out around 2:55, at 5.32 per share (see the red arrow on the chart). This stop saved me from the low of the day (5.11), and also happened to be the price that BAC closed at.
Perhaps my stop was a bit too tight, though I didn’t really think it was at the time I set it.
One problem I have to figure out how to deal with is the small size of my account and the difficulty of making trades that don’t risk more than 2% of my total capital. I’m probably going to have to trade even smaller numbers of shares in order to allow for a little more downside risk. Of course, BAC has been highly volatile so it may not be the right stock for me to learn how to trade anyway. I’ll review some charts tonight and see if I find anything I’m interested in buying tomorrow. If not, I’m happy to let my UYG position ride for a little while longer. I still think that is due for a nice recovery.
Realized a loss of $98.02, for a return of -5.81%.
