I had been hopeful that yesterday was just a pause and the upward motion would regain. To that end, I added to my VRNS position and bought FB. I closed both today. It was not pretty overall in the markets. THE Qs pretty much paint the picture.
First FB. I set 64 as my target to hold. It didn't I took the loss at 63.95, which saved me from quite a bit of pain as FB sold hard. I could look at the chart and see some support at 62 and hope that would hold but that is how you get into trouble. 64 and the 20Ma was support under my theory. Took Less than a 1R loss. I believe that the position size and risk parameters were suitable given the circumstances as this was not set up for a "big" trade.
VRNS: This one just pisses me off! I let a beautiful profit get away. In at 25.57 I had over a 20% profit within a 2 week period. I ended up selling at $27.05 after increasing my position by 20% at $29.28. So I exit with a profit but just a fraction what I had a few days ago. The lesson I take away with these thinly traded stocks is that you have to take the profit when it is there because it can vanish quickly.
That being said, in some ways this trade marks the progression I've made as a speculator. My mistakes are still resulting in profitable trades. In years past, a mistake would be a loss and then would be compounded by bigger losses.
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