Yangzijiang has again disappointed, going south the moment I bought it. This occurred against regional markets all going south (Shanghai down 5%). What should I do?
Cut loss for $200? Or hold till SL or TP reached? Well, I feel it is now a distinct possibility that Yangzijiang's new high is unsustainable, especially with Shanghai correcting at such a furious pace. Therefore, the need for an immediate exit plan.
If I surrender now, I lose $200, with no chance to recoup my money. Against the possibility of losing $560 in total if my SL is reached, this option is not particularly interesting.
A better option would be if I surrender at 0.915. Then, I would lose nothing, but of course price may never be reached, and I may end up losing $560.
Forget about my TP. With Shanghai's correction, I dare not dream about it.
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