I’m 1 for 4 when it comes to trading on Fridays. Took a controlled loss on a $FB put (where I’m assuming the price will go down) this morning which was fine. It was reversal time and I would be down much more had I not been disciplined.
This touches on a pullback pattern where you buy into a fall to the 13EMA. I really should have entered there but I didn’t have the balls.
Ideal TWTR entry:
Saw a late day breakout of Twitter’s highs and decided to pull the trigger.
She then proceeded to roll over and then check out what happened to my brokerage account.
Four phone calls later, I suffered a loss 10% larger than it should have been. I can’t say I’m pissed, but I’m not fucking happy about it because it was out my hands.
Lesson to learn from all of this? Facebook and Twitter both put in multiple moves which I should have taken. This is a numbers game. Pull. The. Trigger. Have a good weekend. I’m still positive for the week.