Tuesday, August 1, 2023

lesson about small losses

File under: Lessons learned a thousand times, but never ceases to amaze me...

When I keep my losses small and keep my attitude confident the wins do come, and they far overcome the losses.

Interesting example. Yesterday I tried trading CRWD on the 162.25 break. Made a little, lost a little. Mostly got frustrated, took a smidge home. Today I tried again. Added a small starter, but it didn't do the job. Set it to stop below day low. 

I watched it happen, and I've seen it before. It stopped me out and then jerked back up. Like the drop was just to shake me out before the run I've been waiting for. 

Then it bounced so hard I couldn't get back in! I found a spot and took only medium size for reentry. Then it ran FULL BULL while the market is doing basically nothing today. That prevented me from adding.










I present this chart while I have the last part of my position still open.  

The lesson is: don't hold beyond hope and have big losers. Take those small losers! But also try again and hold the winners. It's simple as can be, but somehow it's a new lesson every time I learn it.

Other trades:
COIN in the very open. Strong drop, huge spread. Took p/l target with all. Left a lot on the table, but with spread, could also have lost big. No regrets.

PYPL tried for a bounce. Didn't come at my time (did come later).

RIVN a little something on breakdown of uptrend line within base (that I still like for a long).

And CRWD for the win of the day!







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