Hi! It's me again! And guess what? Lost trade again! Haha. Another bounce play that failed miserably. Then again, I lost because I followed my system. And I am quite happy that I did. I was able to sleep well the night after I pressed the sell button! Oh well. I might as well share to you what was I thinking back then.
Let's Start!
VUL Daily Chart 3/10/18
This is the recent chart of VUL. So, as you can see, Heavy sell down. No question. But since favorite natin ang bounce play, we tried playing the bounce. Haha.
THOUGHT PROCESS:
March 6, 2018. The VUL closed at 1.31. WITH A REALLY LOOOONG RED CANDLE!
That time, I thought "May chance magbounce from breakout point!"
So, I planned my trade for the next day. When to enter, when to exit. When to take profit. When to declare victory. And when to cry again.
Of course, as any other trades I take, LAGING MAY PLANO. Positive man o Negative ang resulta, alam ko na yung gagawin. So eto na nga...
VUL Daily Chart with Fibonacci Retracement and Breakout Point
1.21 was MY breakout point. So two ticks up, I bought @ 1.23.
Then I realized from the start that it wasn't going in my favor.
So, I cut my positions @ 1.16
Transaction
Lost 5.++%.
The charts above are updated and as you can see, this stock is still weak. 3 days after I made the trade, I have no regrets. I was able to get out and put my money to other stocks.
Lesson learned again. :) YES. WITH BIG SMILE!
Don't stop believing in your system. You may have a losing streak, but if you manage your losses, you'll survive long game. Preserve your capital. Lahat ng system may losing trades. Don't get too affected pag laging talo. Matuwa tayo kasi naeexecute natin kung ano yung sinasabi ng system natin. It just means na wala na tayong attachment sa stock.
Bawal mainlab sa stock okay?
Remember this,
"You are always wrong until the market says you are right."
On to the next trade!
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