Hey Guys,
The market is still working hard to hold its gains. The S&P 500 is right around 4100 right now. It reached higher each of the last two days, so it's down a bit from those highs as of now. If the market were to fall further, there might be some support at 4000 since it's a major psychological price point.
I bought a couple new positions today. I bought GMAB in the main account and I bought VVV in the low-priced account.
I had a number of trades close in the last 24 hours. I'll start with the good ones. I had four trades close from the low-priced account, all for a profit. Two hit their profit targets yesterday, and two were manually closed this morning for partial profits since they reached their time limits.
The rough one was CBOE. I hit the stoploss on both the stock position and the option position. And I hit it on the same day I entered the trade. Considering that most of my trades last about a week, it's pretty clear that stock that had a very bad day.
Sometimes trades go that way. You can never tell for sure what's coming next. I've bought many stocks with the same general chart setups as CBOE that turned out to be profitable, and I've also had trades just like this where I hit the stoploss the same day I enter the trade.
It can feel like an emphatic loss when it happens that fast, but ultimately from the perspective of the back test, it's just another loss, and we already know there will be many of those along our journey (no way to avoid them). So even though the feeling of this loss might sting a little more than usual, statistically it's not abnormal and is just another trade. Seeing it from that perspective makes it easier for me to let go of the emotion associated with that abrupt loss.
If you have any questions or feedback, I'd love to hear from you.