Summary of this week's deals (30/07-02/08 2024)
I have broken the trading rules several times in the last three weeks, and I clearly knew it was a mistake;
The market doesn't care who you are; as a result, you can only pay for it yourself.
The account experienced the biggest weekly pullback in history 👇
Reduction/Clearance:
$Sarepta Therapeutics(SRPT.US$ (-0.5%) was added when breaking through on Monday, and the breakout failed on the same day. It fell below the stop loss on Tuesday, tried to remedy it once, and went out twice.
$Rocket(RKT.US$ The position was cut by 1/6 twice on Monday and Wednesday. The response after the earnings report was good. It is the name with the best feedback this week among current positions.
$Palo Alto Networks(PANW.US$ (-0.13%) closed below 50MA on Tuesday and exited as planned.
add:
$Direxion Daily Semiconductor Bull 3x Shares ETF(SOXL.US$ Using VIX's turnaround time to buy on Tuesday, I actually got a profit of more than 25% on Wednesday. I was too greedy and didn't make any cuts. I felt at ease with a profit of about 20%. I didn't set a stop loss after opening the day, then went to bed. After waking up in the morning, I found that all profits came back up, and it had turned into a loss. After the market, I made a retaliatory increase in positions... (Does this sound familiar? This is a common mistake most traders make: flat spread failed trades). Currently, positions are somewhat biased (+16%), looking at the chart It's difficult to recover in the short term, next Take a while to see if the market gives you a chance to escape, and you can accept being out after reducing losses.
$Teva Pharmaceutical Industries(TEVA.US$ The response was good after Wednesday's earnings report. The VCP pattern broke through. It was affected by the market on Thursday and Friday. Currently, the stop loss is less than 0.3% compared to the account risk.
The above are all of this week's deals. This week's market was extremely fearful, and many of my positions continued to lose money or drastically return profits;
In view of the many recent violations of trading rules, I reviewed my trading system over the weekend. There was no shortage of vague areas, so many clear and specific changes were made, including:
Continue to resolutely implement the stop-loss principle without any hesitation;
position size (reduce the number of positions and increase focus);
A specific treatment plan between stop-loss exit and locking in the middle grey area of profit;
Specific profit protection, volume reduction, and specific time requirements after reaching 3 times the original stop loss;
Specific protection, volume reduction, and time requirements after reaching 25% profit;
Make the above changes now, and then see if there are any other areas that need to be improved.
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