Trade Update: DO

Today, I exited my position in Diamond Offshore Drilling at 1.00 as my charts indicated the stock was attempting to rise again. This was a BAD trade. At one point I was at my loss limit and did not exit the trade. I was lucky enough that the position came back up to my loss limit at which point I exited the trade. But, you don’t want to trade on luck! Once you set your loss limit, stick with it!

Here’s a look at my results:

# Shares or Contracts Purch Price Capital Out Sell Price Capital In Comm & Fees Gain / Loss

% Gain & Loss

4 1.15 460.00 1.00 400.00 10.00 -70.00 -15.2%

My charts for this trade:

130516 WFM

130516 WFM

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What do you think? Let me know in the comments!

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