Days like these
It's days like these that make me glad that I'm managing my trades better. WFR is about to open with a big gap down. It will blow through my stop and I'll lose a good chunk of money. But I didn't bet the farm on that one stock and I will live to trade another day, dagnabbit.
I never know what to do in gap-down situations. Do I try and sell during the craziness of the market open? Do I wait and hope the gap fills later in the day, week, or month? I just don't know.
For WFR, I removed my stop and I'm going to watch it today to see if I can get a read on what to do. I'll probably end up losing much more than if I sold it in the morning rush, but I'm here to make the mistakes so you don't have to. You're welcome.
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1 comment:
I always buy and sell during the last hour of trading. I don't think there is any edge in doing that, it just makes it easier for me to manage things. Very few people have any skill in selecting daily entry and exit points. I know I don't have any skill in that area.
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