So this week for me has been Fitbit week. From Monday making some good profits we went into the earnings call. I held one position after closing the rest in profits but managed risk by using a medium amount of my account but with NO leverage. Usually I use 4x leverage so each few cents is a nice profit and have a tight stop loss. But obviously aware of a gap up or down I managed risk extremely tight with no MP as stop loss has no effect on a stock opening with a gap. Unfortunately it went the wrong way for me. But luckily I managed to cut losses and leveraged a new position on the way back up (dead cat bounce ). That covered about half of my loss and then as I took profit we fell back off. So I had my chart I’ve been using for a few weeks (you see my chart I made a few hours ago when I completed my final trade). From here next day I opened some more long positions. A couple with high leverage but less money and one with more money but no leverage. This was my account wasn’t really exposed unless the rare circumstance of a flash crash/ bankruptcy of Fitbit which I would have been very unlucky. Positions dropped a little but stop loss was at a low made from pre market trading 4.6. Which was safe and untouched. We bounced and today I managed to close some more positions in profit at $4.99 (I closed my higher risk positions) however heading into the weekend I thought the only “safe” position to keep was my no leverage position. So I’ve held that in decent profit but only because RSI still not even near strength I see it achieving and also I see minimum return to $5.1 first if we break $5 mark Monday. With crappy earnings call some promising projects coming up such as the one with Adidas so let’s see how Monday opens. For now, risk is managed. I still had good profit for the week so this is the main thing
Please note this is not trading advice. Simply my opinions and my outlook. Enjoy reading