Thought I was better than this by now.
Traded PFT all wrong, should have paid attention to the chart, not the thread. I believed the hype, and still believe the fundamentals, but the chart never lies.
Was 15k up at one stage with this, my best ever result by far along with 15k up in CNB at the same time. The two between them were worth 50k.
Hindsight trading, I knew all this and still I was buying, showing that I know and understand the TA but am still very immature as a trader until I get my emotional disposition in check.
I did eventually sell all at average 1.36 which was obviously far too late. What helped keep me in was the knowledge that I had a free carried position in my Commsec account lowering my overall average. I somewhat blew this by buying more earlier in the week at 1.435 and 1.29, so now my average in that account is 37.3. I have reloaded my IG account with more than I originally held by buying Thursday and Friday a progressive lows giving me an average of 1.19, so as it stands am 1.76% up lol. I do now fear it will go lower Monday/Tuesday but I have no more ammo. My overall average is now .90 which is too high for my liking after what I have seen this week.
Reasons to get out (which I stupidly ignored).
1. Failed to break 1.62 on 4 occasions, the last being a red bar.
2. Short term EMA's starting to turn down, especially the 3ema.
3. Second red bar after failing to break top possible sell signal.
4. Long third red bar on high volume definite GET OUT NOW signal.
5. Established downtrend harder to break out of.
6. Long term EMA's starting to converge from bottom up.
7. Buy/Sell depth looking sadder than ever.
8. Macro environment not conducive to trading what with US elections, Covid 19, world recession etc.
Possible reasons to get in?
1. At bottom of Bollies actually touched bottom Friday. I rarely use Bollies so not up to speed on them.
2. Fundamentals looking good.
3. Still above bottom of longer term channel.
4. No other reasons?
I think I will be watching the depth very closely on Monday. I will probably sell my IG holdings due to TA and keep the Commsec ones for the FA.
Any comments/suggestions welcome.
I wont post this on the thread as will get crucified.
CNB is next on my list, lets see if I can convince myself to sell that also.
