Had a string of big losses, mostly the reason being not following the rules and patterns I know
Realized a loss of almost 1200 in my large account
Ticker is $EXAS
Added it to my watchlist as it fit my screening
I didn't get into earning detail,
Just read this
I didnt get into fine detail, how can 0.36 better than 0.42, only when its negative.
The company didnt report profit, it actually less than expected loss and not so encouraging guidance.
The stock spike premarket.
Anyways ,
As soon as the market opened It dropped almost 12%
I bought 1000 shares on an uptick, but then it stared dropping. Thinking of it as earning winnter, I stayed and was soon -ve for several hundred dollars. My account that day was 25K and 200 something, so it was cruicial that i dont fall below that limit , otherwise the PTD will kick in.
I had no stop loss setup and I was stunned , in my expreicnce usually you get 2 decent chances to get out of a trade going against you.
In 2nd aero area , i was only -ve for 190$, I should have sold , as my account would still be >25K , but i hoped it will go higher and trade will become profitable, that never happened.
I didnt get out, anohter chance I had was at 3 , again I was hoping for it to reach at level of arrow 2 , but I didnt, at that time it was a double top, still I didnt get out and by the end of the day I was -ve >1K. Today again at market open, it spiked but i didnt get out and tanked thereafter and I took a 1K loss. and finally exited at the fourth arrow
Entry price: 17.72
Exit 16.49
Now my account is locked under PTD rule. I have added additional funds but they wont be available for 4 business day, so I am done for the week.
