My school fees are due.
In the month of October, my trading account took a dent as Mr market got volatile and swung in highly unpredictable manners. The swings were rough enough to send those who are not nimble enough or not patient enough (yes both, even though they seem contradictory) flying off their seats in all directions.
Even VXX has now broken its trend. No more trend to ride. :(
Lesson 1) When Stop loss = Sure loss
Should close position for the day and NOT just set a stop loss for next day when the market is mad volatile and gapping is rampant. Even though my (limit) stop loss is set exactly at my bought price, I still can get forced stop out with the gap difference at a much lower price the next day when market opens.
Conclusion? My stop loss is practically useless.
Then reminded me that each time frame …