Nice!! And no posting* until you've got 10years of experience, it's why stupidity prevails through out the verse. * unless your bored ofcourse!!
Well s..t happened. I sold NCLH today with loss. I bought it in February for speculation, now I’m penalized. Never liked this stock but price was good to buy, had no “insurance” for it. But I did not buy it at lower price, got bad fillings. Sold it first this morning and happy. It’s -$3 now, will see eod when mutuals will sell.
I did it for some, already sold them out with 10% profit, but for about three months duration. Moral: it’s always exemptions and they worked. P.S. Still have a few on long.
Rebought inverses small size during the run up into today's close SDOW SPXS SOXS TVIX etc, Lesson learned from experience is "start small, then scale in", so I just bought 10 - 30 shares each, a few thousand dollars worth.
Questions if you don't mind. Why all of them, would not one position be easier to manage at the open? What is your exit strategy if they gap open against you?
Smart questions, thanks! I trade several so I can have more opportunities to win.... I stagger both entries and stops to minimize being shaken out, which happens more if you just trade single positions. That's a pro strategy I learned from a skilled trader at one of my live Las Vegas seminars. Gap against strategy, I sell a bit, 20% or so premkt 7:30am if gap trends down. I wait till 9:45 and if gap continues down I scale out half remaining shares. If it goes down all day I scale out rest near 4pm Current inverses in main account:
How are your stops executed? Trading small positions like you do does it make sense to scale out? Trading any size position why scale out? isn't the stop set where you are wrong and if you are wrong, why prolong the pain?