🖼 Daily Technical Picture 📈
➤ What an extraordinary day! The Bulls have run riot. The Bears have been crushed like myself.
➤ Price has charged through the top resistance level and looks unlikely to stop there with so much momentum. There's really not much more to be said. You can see the empty space till the next resistance level on the chart.
➤ The saviour for my portfolio has been the small short positioning. This is of course somewhat offset by such a huge advance in price. Overall, correct positioning kept losses to a manageable level of around -2%. That takes my performance into negative territory for the month. I was also caught wrong-footed in September in a similar fashion. Losing is part of Trading and so is risk management.
➤ At market close, I reversed my short positions with a larger long position. The portfolio sits at +64% long exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Wrong direction but right-sizing - risk management.
NOT INVESTMENT ADVICE
➤ What an extraordinary day! The Bulls have run riot. The Bears have been crushed like myself.
➤ Price has charged through the top resistance level and looks unlikely to stop there with so much momentum. There's really not much more to be said. You can see the empty space till the next resistance level on the chart.
➤ The saviour for my portfolio has been the small short positioning. This is of course somewhat offset by such a huge advance in price. Overall, correct positioning kept losses to a manageable level of around -2%. That takes my performance into negative territory for the month. I was also caught wrong-footed in September in a similar fashion. Losing is part of Trading and so is risk management.
➤ At market close, I reversed my short positions with a larger long position. The portfolio sits at +64% long exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Wrong direction but right-sizing - risk management.
NOT INVESTMENT ADVICE
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, www.etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, www.etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice