It got crushed at the open and went well below my stop. You may think I’m upset, but I think this was a very successful trade.
First of all, I kept my position size very small. Secondly, my stop saved me from losing a lot more money. Thirdly, and most important, my analysis yesterday was perfect. I noticed weakness coming in. I noted that it was making a strong case for caution. My only mistake was that the caution was more overwhelming than I thought. Especially in this bear market, I should have given more credit to the warning signs and just sold. Otherwise, my analysis was on the money.
I learned a lot from that trade. I will chalk that one up as a win!
