After FB found a base today at 33, I bought 100 for fun at 34.04 on the pullback. See attached for time and price. My blotter says my average price is 3.61 because of FIFO, but I consider it to be 34.04, since the other trades were intended to be quick scalps.
But here is the experiment: I am going to pretend I am short, and look for a profit of just over a dollar, or, just under 33. But at the same time, I am going to do what your average dentist will do, and hang on for dear life until it gets there, regardless of the drawdown.
Hopefully for me, although improbable, the dentist's profit target and my stop loss never come into play, and it just goes up to the point of the dentist getting slaughtered. But the way this thing is trading, it may go below 33 yet today.
The nice thing is that it is just an experiment/game with 100 shares, so my risk is the stop loss + slippage (which will be huge below 33, so I may have to rethink that) + comm = insignificant.
But here is the experiment: I am going to pretend I am short, and look for a profit of just over a dollar, or, just under 33. But at the same time, I am going to do what your average dentist will do, and hang on for dear life until it gets there, regardless of the drawdown.
Hopefully for me, although improbable, the dentist's profit target and my stop loss never come into play, and it just goes up to the point of the dentist getting slaughtered. But the way this thing is trading, it may go below 33 yet today.
The nice thing is that it is just an experiment/game with 100 shares, so my risk is the stop loss + slippage (which will be huge below 33, so I may have to rethink that) + comm = insignificant.
