Hey Guys,
Well yesterday proved to be a tough day. The S&P 500 did end up going all the way down to the 4,000 price level and closed there. This morning it's up a bit but bouncing around.
In the midst of that market drop, I hit some stoplosses. The one that caught my attention the most was the one for EDU, which I had bought earlier that morning. This stock had been very quiet over the last week as the market was bucking like a bronco, so I had hope it might be resistant to what the market as a whole was doing. But from the moment I bought it, this ticker did not stop dropping. It was like a 45-degree line going downward all day long.
Some trades just turn out to be duds. We try to use as much intelligence as possible to make trades that put the odds in our favor, but ultimately we have no control over how they turn out. And if you trade for long enough, you're going to end up having some trades that turn out like this. Back tests suggest that statistically they're all but unavoidable given enough trade attempts. So when one happens, I try to let it go and move on. My trading journey is not defined by any single trade.
There were no new trades today. It's been a quiet morning in that respect. Yesterday HAS from the watch list triggered at the end of the day, so I have that position in my main account.
If you have any questions or feedback, I'd love to hear from you.