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Thursday, 18 February 2021

My Tesla short - update #3

Tesla stock price was sliding nicely when I went to bed, but when I woke up this morning it had reversed direction and been in an up-trend for most of the trading day. Fortunately my trailing stop-loss had automatically adjusted to 16 points above the lowest price, so I got closed out at a reasonable price and only lost 38.08 USD on the trade. So my updated Tesla trading record is:

17/2    Sold 4 TSLA @ 844.540    closed out by stop loss @ 818.295    profit: $134.74 (USD)

17/2    Sold 4 TSLA @ 806.190    closed out by stop loss @ 777.558    profit: $147.37 (USD)

18/2    Sold 4 TSLA @ 780.520    closed out by stop loss @ 787.860    loss: -$38.08 (USD)

Tonight when the US market opens I'll keep an eye on how Tesla is trending before deciding when it might be a good time to open a new short position. It still looks to be within a general downward channel, but if it continues to rise much further it might indicate that Tesla will go back to trading within a 820-880 channel. Day trading really isn't "investing" but simply another form a gambling. A lot more fun when you make a profit than when you make a loss ;)

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