Trying to focus on O/Ns due to my working schedule, I was looking at ATOS since a little while. Setup was great on 3/8 at the end of the day going into Friday and technically primed for a B/O similar to what happened to AKER.
Due diligence done and earning release set for 3/15 according to TOS and Nasdaq (https://www.nasdaq.com/earnings/report/atos). I finally overcome my hesitation and enter at .80. ATOS closes nicely.
By the time I start something at work, my eyes are caught by a nasty red candle on the chart: ATOS surprised us all by releasing earnings well in advance. By the time I prepare the EH order (I even have to accept a form since was the first time I place an EH order with Etrade) I am out in the .60
This trade wipes off all the little gains I made since I started and now I am back to square one. But I still think there are crucial lessons here:
1- this can happen. I remain convinced that the setup was good. I would take the trade again
2- probably (and hopefully) this a rarely and nasty scenario and if I survived this, emotionally speaking, I can surely handle controlled losses. This leads to my main point: I believe that confidence is gained by experience in handling losses rather than having many wins
All and all a nasty loss yes, but I am trading with small size in order to practice. So overall a nice win in experience and education.
Cheers.
Paul
Keep at it Paul. #2, Controlling your emotions is key. It's part of the learning curve. I am 6months in & lower in the red than ever.... I'm still learning and working to be better. Best of success in this marathon!
Yeah it looked like a great o/n set up as I took the same trade and was very surprised to see what happened in a/h
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