ANZ - MY POSITION UPDATE
I'd previously made a post regarding my current position holding quite a large position in ANZ.
After examining the movement over the past few weeks,
- Slow prevailing downtrend
- Poor / slow overall economic recovery
- Bad news reports across financial sector
I decided to sell my entire position, closing out at around 16.5 for a circa $200 profit. Which would have now been an unrealised loss of over $1,500.
Was lucky to get out when i did, definitely predicted a swifter recovery than what we're currently experiencing, not only in Australia, but on a global scale.
Remember, if you ever feel uncomfortable in a position, GET OUT, if it's not doing what you predicted, don't let your account drawdown and hope the trade comes back.
Always follow your pre-defined rules, and analysis.
Hope you've had a good weekend of analysis traders! Wishing everyone well for the coming week.
After examining the movement over the past few weeks,
- Slow prevailing downtrend
- Poor / slow overall economic recovery
- Bad news reports across financial sector
I decided to sell my entire position, closing out at around 16.5 for a circa $200 profit. Which would have now been an unrealised loss of over $1,500.
Was lucky to get out when i did, definitely predicted a swifter recovery than what we're currently experiencing, not only in Australia, but on a global scale.
Remember, if you ever feel uncomfortable in a position, GET OUT, if it's not doing what you predicted, don't let your account drawdown and hope the trade comes back.
Always follow your pre-defined rules, and analysis.
Hope you've had a good weekend of analysis traders! Wishing everyone well for the coming week.
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