I’ve been trading NCPDP and other stuff without much success over the last month (nor keeping a diary). I return to a stock I think I know something about. But my position size is scaled back to $10,000.
Glad to be out with a tiny profit. It will probably jump up a bit, but the trend is down.
It seemed too cheap.
Back from holidays and NCP is down again. So like a moth to flame I jump back in.
On holidays in Queensland and having a losing open position is stressing me. Sell so I can at least enjoy my holiday. Plus I can return and trade without waiting for my stocks to recover.
Stuff happened (in an earlier version of the website) and this diary was lost. I’ve rebuilt the trading history from my records (and a backup) but have don’t have all the reasoning. Often on the losing trades that follow there was a day or two when the sell target was reached, but I didn’t have the sell order in because I was too busy. Live and learn.
Stop loss set at $1.00. Had to learn that lesson sometime.
NCP opened at 15.00 so I placed the order. I am worried that if it hits 14.90 it will keep falling as a key support will be breached. But I’m testing a system and I’ll be in meetings most of the day. Here goes.
NCP opens at 14.90 but I didn’t have an order in! It climbs spending most of the day below 15.00 before closing at 15.05. I placed an order at 14.90 in case it dropped.
Ouch! NCP opens low at 15.14 and trades lower spending most of the day below 15.00. The strategy calls for buying more stock if it drops another 2.5% to 14.90 which it nearly did. NCP closes at 15.04.