So a week or two ago, I was seeking perspective on TSO. A stock I choose to build resilience to hold long and learn how to go through a process of holding long term. Thank you once again for all your inputs. It is hard, I admit.
So what did I do...I am still holding...I have brought my average down to 20.7 from 22.5, I think I executed the average down move well, without losing money. Holding is about the same.
However its interesting that two things I did with TSO are the ones that I have written not to do
- Buying in down trend or try to pick the bottom /close to bottom - Average down
Trading is funny and discipline is hard. At the same time I feel agility to adapt is vital. Its okay to change the plan, as long as the drivers for change stack up. In most of my trading activity I would not do what I am doing with TSO... but then exactly...TSO is a different kind of trade.
Rest of trading is going well and I am enjoying,....biggest transformation has been that I am cutting my losses very quickly and letting winners run longer than I did before. Also I am not trading everyday...but still watching the market and have setups in place. I wait patiently and then I go for it all guns...so again, wins are getting bigger and losses smaller. Technical are still very basic, but it is working- support/resistance, demand levels, couple of averages....that's it. Trading a selection of stocks only.
hope you have all been well... and thank you once again, I learn a lot from the contributions you make to this forum and other forums...
