It’s been a while since I’ve posted in my journal but things have been quite uneventful besides the gradual rise in coal stocks I’m holding.
Their up and down over the last 2-3 months has been a test of my patience and discipline. They have taught me three valuable lessons.
1. Be patient in getting into a trade
2. Be patient in getting out of a trade, if you are confident
3. Don’t get into a trade unless you are totally confident
Anr has returned to 6.10 breakeven levels and above to the 6.80’s and wlt has increased to the 16’s. I am contemplating scaling down 2/3 of my position at those levels with the market problems looming next week and resistance upcoming for these stocks. However, in reading the bullish things people are saying about coal right now on stocktwits, I am being swayed slightly. Part of me wants to wait till later this week.
However! despite them, I pared down 2/3 of both positions and I’m feeling glad I did. I have finally recovered my money plus some. Feel like I can breathe stocks again.
anr sold 2080 @6.70, kept 1150 with soft stop at 6.10
wlt sold 750 @15.67, kept 401 with soft stop at 13.08
Sold anr because it broke down from 4 day up channel, did not want to give back a possible move down to 6.45. Sold wlt because intraday descending triangle was forming.
Will look to get back into both stocks on future setups.