[Feb 21] Sea of Red

 

It's almost 1 month into my trading journey. Out of 5 stocks I entered for Position Daily, 3 are in the red (I'll ignore Colfax as I just entered that yesterday). 

PLTR
My biggest loss at the moment (-20%), and was my very first purchase. I must admit I didn't do my own diligence and just followed what my friend said. I'm not blaming him, I'm blaming myself. I didn't really like the consolidation (too short) and I probably wouldn't have bought it on my own.
I also made a stupid mistake of selling a Put when the stock price was high - have to remember to sell those at a swing low instead. Ended up being assigned and now stuck with 100 more shares.
Nonetheless, the company sounds promising, and based on everything I'm reading I should hold it for a few months. I've a feeling if I follow TGPS' rules I'll have to exit it, but I'm going to ignore it, just for the fundamental value. Maybe it'll be an expensive lesson. It already is.

WDAY
Not pictured here, but it was up 8% at one point, my biggest gain, but now is retracing back a bit down to a +3%. It was my second entry so I had sized down a bit, which was a mistake. Should have entered with confidence. It's a reputable firm, so I am bullish it will recover and go up mid term at least.

CB
This traded sideways the week after I bought it, but it seems to be starting to head up. It's also my largest position at the moment, so hoping it does well.

MSFT
Wasn't the most ideal of entries, but given it's a solid firm, I was happy to hold the stock for long even if it went backwards. Almost as if to test me, it went up for a bit, then took a sudden 5% plunge. wtf? Oh well, have to hold strong

LEN
This stock is on one hell of a downswing, and is now slightly below the previous resistance turned support. If it falls any further it's going to earn the dubious honour of the first stock to trigger my TGPS SL.

TU and FCEL calls
These two calls are going against me at the moment, but I have one month DTE. This is a test of my decision making - should I cut my losses and let them go, or ride it out for 1-2 weeks first? Emotions (and a bit of sense... surely there should be a stop loss?) is telling me to sell, but another part of me says I should wait it out for at least 1 more week before letting go, since I have 4 whole weeks and a lot can happen. There is a market downswing for fuel cell-related stocks atm due to some catalyst, so not sure if the effects are permanent. Think I will hold for now.

ARKK ETF
Tesla took a big hit, so this ETF took a bit hit as well. 10% plunge is an ETF is pretty sick, and I regret my earlier sizing. This was sized way too large than I should have. Should have kept the money in standard ETFs rather than these risky ones. Lesson learnt, don't be greedy. Will likely hold and try to ride it out since these are meant to be long term.

IPG calls
Some good news is this IPG call is doing well and is up 100%! Hoping to close one of the positions when market opens, and ride out the 2nd one till it turns. Will be my first experience trying to close, so hope it goes well and market doesn't move against me too quickly.

Overall, not so good. Down $1000+, which is 8% of what I've put in. This is a test to see whether I can weather such fluctuations, and what I can learn out of it. I'm stubbornly holding on to most of my losses here, except for LEN which I will let go according to the rules. Let's see if it works out.

One more lesson I learnt is to diversify my industries - I have too much in Tech, and when Tech corrects, everything corrects :(