Sunday, 17 July 2016
Trading Review: 08-08-2016
Gross PnL: -$1279.
After Commissions: -$1290.
A blow-up day, really disappointing after stringing together a tonne of positive days. This was a big factor in the blow-up (and not taking the stop). The stock moved very quickly against my short past my stop, so I was basically sitting there thinking that I had wiped out a few weeks grinding. It then pulled in and offered a "reasonable exit" - it was still a big loss, but by that point "hope" had set in... Poor trading.
I remember thinking that if I was to get long, this was the spot and risk 10-20c. Ironically if I had taken my chunky loss and flipped position I would have easily made it back on the next push, where I was margined out.
Interestingly, had a similar scenario a few trading days later - I had my hard stop-loss in and it was taken easily, no stress. Slightly bigger loss than should have been but all good.
The other important thing to note is that although I don't think my trade idea was very good (based on various reasons), that has nothing to do with the blow-up.
DGLY:
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