July PnL, took a fat L cuz of Tech selloff.
To start off in July, i had a couple positions in tech stocks and due to sector rotation and the sell off, wiped out a large amount of my gains or amplified any losses.
(P&L is not 100% accurate as some options i sold/bought do not have proper pricing).
My largest loss was possibly my attempt at cost averaging $GraniteShares 2x Long NVDA Daily ETF(NVDL.US$ , which didnt rlly go well but i managed to sell a covered call anyways.
I also lost some at $Chipotle Mexican Grill(CMG.US$ cuz i thought it was consumer staples when it was consumer discretionary (which is selling off), so thats an L on my part.
Alltogether the NVDL bit is still fine for me as i plan on selling covered calls, largely the main problem is that my investment portfolio fell too, and ill be doing some adjustments to that.
Mainly, ill be removing $Allianz Oriental Income Fund YDis(LU0348783233.FD$ as i noticed its asia exposure is not rlly what i wanted, with 40% in japan and like 20% in China, its too weighted in countries that are overvalued or doing poorly.
In fact the other countries only have like 1 stock that makes up their weightage.
Ill be opting for ETFs instead or just leaving the asia sector alone as theres not any good asia mutual funds on Moomoo.
Asides from Mutual Funds, stock-wise, ill likely not be doing any stock plays anymore cuz most of my capital is stuck in $GraniteShares 2x Long NVDA Daily ETF(NVDL.US$ , or ill only be buying into stocks that have good earnings and guidance AND are not one of the sectors that are selling off (Consumer discretionary, tech etc)
Overall July was a massive pain and this gif sums it up:
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Yr 3 Banking & Finance student w 2 yrs forex, 6 months stocks. Moo earnings hub enjoyer
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Aaron Invests (AI) : You are not alone. Hang in there.
Thy GoD OP Aaron Invests (AI) : down the same amt as u lmao
we r so cooked
JJ_7201 : Keep a Journal and it will help u along yr trading journey
Thy GoD OP JJ_7201 : been busy w work but I plan on finishing my trade history and p&l records first
BH_6730 : Don't u find it too expensive to trade options on M??
Thy GoD OP BH_6730 : fees r rlly high so it's either you play big or you sell options
LL_9542 : Refresh.. then Reset and Go slow
010Leo : best of luck... I also losses in tech funds
pixiu88 : Never give up. Patience is the key to trading success.
TONYTAN1976 BH_6730 : Yes. M is expensive compares to others.
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cannot trade options in M.
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