I've been uncomfortable with this trade and been looking to exit at a level I'm comfortable with. I just got that moment. I closed out for a loss of .06 per share plus commission, somewhere in the area of a $40 total loss. It was a $2000 loss a few days ago so I'm happy. As I mentioned before, this was the last trade made before I had a trade worksheet made up. A post trade analysis showed I wanted no part of this trade for two reasons. The first is it doesn't pay a divided, so it didn't make sense that I tied up 13% of my total trade capital in a name like this. The second was the chart. It's trending down and I went long with no thesis behind why I thought this would reverse. So once again, glad to cut it for a small loss and consider it a learning lesson. I'm kind of happy in that using TA I decided to actually wait for a bounce up to resistance before I cut this position rather than taking a bigger loss earlier. And just in the time of this writing it looks like the stock is down close to 1% already. Wow, being available to actively trade sure does have its pluses and minuses.
No comments:
Post a Comment