🍷 MARKET TURBULENCE & HOW I (MIS)HANDLED IT
This was a challenging week, and I won’t sugar coat it with a dessert paired with a glass of Port. World events rattled the market in ways I haven’t navigated before, and I adjusted my trading strategy accordingly. I made some good trades this week, but I also made some questionable moves that cost me money in both real dollar losses and missed opportunities.
- I sold SanDisk Corp (SNDK) for a nominal gain, and then panic sold Ciena Corp (CIEN) during Thursday’s Power Hour. If I had held onto them, I could’ve pocketed +5% gains on both sales during Friday’s opening bell.
- Buying LULU (Lululemon Athletica Inc) after Friday’s opening bell crash repeated a mistake I made with an earlier trade: never buy a stock when it drops just above a psychological number barrier.
FOMO (Fear Of Missing Out) goes against my trading rules, but when I view those three trades collectively I noticed a pattern that my head wasn’t in the game. I removed myself from Friday’s trading session, perhaps my smartest move of the week, to both preserve this week’s gains and give myself a head start to clear my head over Labor Day Weekend.
I've already made my biweekly profits sweep, so let's review...