It's a must. Two of the past three days have been the biggest trading losses for me in the past month. Otherwise, most trades have been wins. One huge reason was the 6-week bull run from the market's bottoms. Another reason was selectivity, something I had more of before this week.
The biggest reason, though, is that I didn't use stop-loss sell orders on trades for BAC and FAS. That takes consistency and discipline. I used them earlier in the day (losses on FAZ), but simply acted the dunderhead later. Chances are that the two stocks will swing back up and I'll break even. Nothing is guaranteed, though. That's why trailing stops are key.
Also added a few LVS shares at 5.77 in after hours yesterday. I missed a chance to get them on Tuesday at 5.07 in AH after learning about some positive news. Trading above 6 in premarket today. Adami says it should be above 8.50. We'll see.
Stress test results for financials tomorrow. Stress for shareholders, too. In a perfect world, I'll be out of financials by then.
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