When I went on holiday, I promised myself, I will stay in control and NOT trade. Now I’m back from holiday and feeling good that I stuck to the plan. The temptation was there all the time though, since I guess, it’s already part of my routine, I take a look at the market every now and then. Every time I felt the rush to “sell” or “buy” I’d log off the site, especially that those times, I am not ready, not having gone though my list of steps / trading procedure. Luckily, there is plenty to take my mind off the trade. (Other err, temptations that made me gain weight!)
Anyway, now, slowly getting back to normal and first business of the day, I was checking the market and my position. It seemed that STO had a good, steady move up. I expected the price to pick up in January after the “holiday break”, and then there was Iran that is creating tension in the energy market causing the wider sharemarket to fall, but not the oil stocks! (All a matter of selecting the right market to trade!)
STO 1 Month Chart
I ‘ve been tempted to take profits since last week or put a position to capture profits for a move down, but, scanning the news around, there’s simmering pessimism in Europe but Iran’s oil embargo issue is still alive and I believe will keep oil prices high, which is good for the oil stock I’m holding. STO has so far moved in synch with the movement in the oil price. Today, there was wide range of stocks falling again but STO seems to be attracting interest following the surge in oil prices.
So, I’m watching my trailing stop (I’m out at 13.30) to keep my profits and hanging in there for more.
