Last week, I mentioned I made a QQQQ purchase ("toe in the water"); I also suggested that "since its now almost in the money by a half point, I’ll move my stop loss to breakeven. I’ll average up if we rally, and hold the position until it starts misbehaving."
As it moved higher, I also moved the stop loss with it. When it broke
$38 today to the downside, I was stopped out for a very modest gain.
If you bought something for a trade on Thursday’s plummet, you may be
getting close to breakeven on it (depending upon what you purchased).
Your discipline should be to never let a winner turn into a loser, and
never let a Trade become an Investment. You can always repurchase
something back if it starts behaving better later.
For now, if you took something in for a quickie, and it ain’t working
out, you should be thinking in terms of capital preservation, not the
next turnaround or bounce.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.