LCID - Trade Review

9 ott 2022

Most of the times I do reviews on plays that went green; however, this one will be different. Us retail traders have no control over the market, and we are bound to have red trades/unsuccessful trades, but we have to implement good risk management measures to keep moving forward. My plan was to enter in a long position at around 14.35$ at the support level, with a target to 14.89$ to the following resistance level. The market conditions weren't optimal for this long and clearly I was punished for it. I kept my risk minimal however and I manually exited the trade during pre market. As you guys can see, it would've been a really red trade if I had held onto my shares as the stock dumped at open. In the end tho, I was able to redeem myself on the MSOS short I just reviewed. It's always important to be looking out for other opportunities and to keep your head high after losses because when one door closes, another one can open. Hope you guys have a good weekend and I will be reviewing other plays I make throughout the week.