So, just as I saw the terrible economic news, some banks decide to flood the market with dollars before the open and I had to cover my short about 2 dollars above my initial position. this has been devasting to my portfolio, since I trade on margin. I waited for the market to go down again and got long into the stock, I am gaining some money back but it doesn't even start to cover my big loss.
I am upset about this, and this teaches me again to not hold things over night. If I don't discipline myself I will lose it all. So the lessons are: Do not hold a stock overnight, unless you are a the start of a proven reversal and do not trade early in the morning any more, wait until 10:30am , at least.
Let's see how this trade goes and I will let you know later.
Update (3:58pm): Well, I was able to mitigate the pain a little bit, I am still down big time, but at least I am on the mend, I day-trade TWI for some profit, and at the end of the day I found a nice chart for HFC, which is right at support, so I decided to go for it. So far, so good. According to this chart, this is supposed to go up at least 2.5 points from my buy point (33.85). I will let this trade go for a few days to see if it develops as expected.
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