I have been watching SAH closely everyday and looks like there isn’t going to be an end to my pain in near future.
As I look through the chart again, SAH has a very solid resistance at 5$. But to hold through 5$ means, I will be down by almost 8000$ on my position. I don’t think I can handle that.
On another note, if you go back in past (Nov. 08 and Jan 09), SAH had multi day runups like this and then it gave away all those gains in coming days.
As of this writing, SAH is at 3.17 continuing the upward movement. I think SAH is basically continuing its momentum as the week comes to an end. I think it will start giving back these gains on Monday. If it does not, I will cover my position.
Overall, I am learning the biggest lesson on my small trading career i.e. never to trade without stop loss.
My friend SJ has been suggesting me to use stop loss all the time and I think SAH taught me the importance of stop loss the hard way.
Wish me luck,