Hi Guys,
The market is still strong right now and it keeps handing us new trade setups. I picked up Target (TGT) and INVH in my feature account. I picked up options for Dollar General (DG), AMT, and TGT in my extra options account. And I picked up shares of PEG in my low-priced account. Those tickers all represent the real estate and consumer defensive industries.
I had a few positions reach their time limits this morning, so I closed those. In the main account, CE closed for nearly a full profit while BIDU took a loss. And in the low-priced account, COP got closed for a profit. For stock positions that reach their time limits, I like to close them first thing in the morning using a market sell order. The second video on this page shows how I do it.
Some of my positions have exhibited volatile price movement in recent days. AVLR, for example, came very close to a stoploss on Friday and now is all the way back to breakeven. If you followed me on that trade, it might be worth taking note of how you felt about the trade on Friday when the price was way down. If you had strong emotions about the position (perhaps fear or anger), notice how those feelings had no impact on the trade. The trade is back to breakeven for the moment, and those feelings were essentially "for nothing".
Strong feelings like that can often be unhelpful when it comes to trading (especially for the rules-based type of trading that I do). We can't control the market, so there may not be any benefit to watching the trade so closely and subjecting yourself to its potential emotional toll. I often put the blinders on once I'm in the trade, and only monitor the position to the extent that I need to in order to administer the trade. That way I don't go through an unnecessary emotional roller coaster that has no impact on the outcome of my trades.
If you have any questions or feedback, I'd love to hear from you.