TSLA Trade on Jul 5, 2018 09:28 from protraderx: Tradervue User Stock Trades.

The previous night 2nd July 2018, I had a very nerve wrecking wild swings on TSLA. Made 4 trades on TSLA. It was swinging from profit of SG$274 to loss -SG$493 and -SG$9158. I made the right reverse trade direction fast enough to gain back +SG$10923 and lucky I ended the day with profit +SG$1548.

On 3rd July 2018, 1 min into market opened shorted 700 shares of TSLA and it went in my right direction almost immediately. Took a big gamble on this volatile stock.

I was actually not aware there was sell call by stock analysts that the share price of TSLA should be half of current price i.e. their TP in the range of US$150 per share. But judging by how the previous day 2 hours before market closed it made such huge sell down, it was a hint today on market opened it could be another big sell down.

I accidentally hold first short position of TSLA overnight from Monday 3rd July as I was not aware that the eve of US Independence Day Wed 4th July the market on 3rd July was half day and closed at 12:30pm US Eastern time. Therefore, I did not manage to exit my position with profit over +$8k~

Luck turned out to be in my favour big time for 2nd time, and when market re-opened TODAY Thur 5th July Friday, the fierce sell down continued. I added short 700 shares position fast after more than 15min when I saw the momentum of the sell down was gaining and is not going to end anytime soon. It quickly added handsomely to my total profit.

The next 1.5 hours before I exit both positions, the swings were very wild and it churned my profit up and down +/- SG$20,000~ but I remained relatively calm as I was already in house money. I treat the profit as house money.

At one time, my paper gain was over SG$43,000~ for both positions (ie. +SG$32,000~ and +SG$11,000~ but I failed to take it because I wanted to see if today I can hit SG$50,000 profit.

By the time I exit both positions my profit was had gone back to +SG$22k~.

It is so far my best trades ever and for just few hours of work.

Lesson learnt:

(1) Do not be greedy for wanting to see how high you can get. There are many sharks out there want to take your money from your hands.
(2) It is a big mistake to treat profit as house money and treat it lightly.
(3) Take profit whenever you are up 10% to 20% for high momentum stock.
(4) After that huge gain which saw my trading account size grew from S$50k to S$90k within 9 days my confidence hit the roof but it is a fatal mistake to treat this gain as house's money. This kind of huge sell down and caught it at the right time is hard to find and trade correctly as it takes a lot of guts to do it again due to the huge swing.