PnL for year still on that really nasty grind lower. But with the adjustment back to "normal" style is the previous profit nodes really worth considering? We shall see anyway. It's starting to get to quick a figure, and the consistency of the move down suggest I'm throwing my money away.
So far since adjustment am down a little bit, including what could be considered an adjustment period.
Have also had two trades where the range was bigger than expected and really caused me grief; as the price action was sort of as expected (excluding range)... Despite drawing me down massively (2x max drawdown). I believe I responded okay to this; hanging on for a second and then setting stop above high... But this is one of these instances where:
(1) Having a good initial entry would reduce risk significantly.
(2) Having a hard stop would protect a little better.
These stocks were W and WRLD.
So this week I will get hard stops in on all trades upon entry; and see how that goes. It's the struggle I remember from when I initial traded with scaling. A lack of ability to adjust stops quickly and efficiently was a real drag. But with only two entries, maybe it's a little easier?
Anyway, remember not place stops too tight, and to try and be realistic about how far stocks can go.
No comments:
Post a Comment