I wasn't watching at the open last night, and when I logged in the market had initially dropped very significantly before rebounding. I'd missed the low in GOOGL so didn't bother placing a new Buy order as I wasn't sure which way the market would trade during the day.
My Tesla position had automatically closed on the rebound due to my trailing stop loss (yay!) so it had locked in a significant profit. I watched the market for a little while and when the initial rebound in the Tesla price seemed to have run its course I placed a new Tesla Sell order, and put in a 25 pt trailing stop loss to limit my potential for a loss overnight. This morning the position had been closed out for another small profit as the share price had dropped after the rebound, only to recover again during the afternoon (US timezone) trading when I was asleep. Fortunately my stop loss again closed out my position for a small profit during the price rise. I'll keep an eye out on the pre-opening action before I place another short order tonight as Tesla may well drift back down to the 620 support level that saw resistance during the price rise back in December. If it breaks through that charting 'theory' could see the price retrace all the way back down to ~440.
My updated TSLA trading history:
TESLA:
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)
19/2 Sold 4 TSLA @ 788.000 closed out by stop loss @ 793.980 loss: -$30.94 (USD)
20/2 Sold 4 TSLA @ 789.700 closed out by stop loss @ 637.195 profit: $769.52 (USD)
24/2 Sold 4 TSLA @ 700.370 closed out by stop loss @ 694.237 profit: $30.85 (USD)
My CityIndex CFD trading account seems to now have made an overall profit, with the recent trades more than making up for the losses I had manually trading the ASX200 index during 2020. Of course I'll have to pay about 37% CGT for the overall short-term capital gains made trading this FY (assuming I don't end up with a net loss come 30 June).
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