I am still long from the above price and will be raising my stop loss of 5k at some point today. With the current sl my risk is -2%, but with the new stop loss it will be -1%. Currently I am up about 2.5% on the trade so I've made more than I risked which is bueno. My final trading account that I am running before I officially start my career is up 20% in about a month of trading, so I am very happy overall with how that has been going.
We have sort of stalled at a triple test of around the 5.9-6k region, but I doubt it will hold, so I still think we are going a little higher than we are right now. Nothing is certain though which is why we are first and foremost concerned with risk.
Remember, always, the first rule of trading is not to lose money! Here is how I view trading, and I think it's the right perspective. I do not have to make a lot of money this year, I simply have to make a reasonable return - reasonable enough to impress people to invest with me. THAT is where I will make my money. I will make my money by taking some profit that belongs to my customers. If I could simply make 20% return each year, I would be managing billions of dollars probably within a decade. That's my perspective. I'm trying to be just good enough so that I can keep playing this game and slowly attract more and more clients.
I'm not interested in making any money this year. I'm interested in making an assload of it in ten though.
Thanks for reading,
Shkreli
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sl now is 5350. Account risk -.25%. Currently up 4% on the trade.
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now in a riskless and profitable trade, stop 5500 and tp @ 6900
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Position closed. Made about 8% on the account and I'm not up about 25% in a month or so of trading.