A number of days ago, a trading signal was generated and I placed a limit order with my online trading platform.
Usually, with my limit order, I include a “time of expiry” in which, if the order was not filled by the specified date and time, the order will automatically be purged. For that particular order, it was supposed to be filled by the close of the trading day, or I’m not getting on board at all. However, I was too lazy to type in the date and time of expiry. I though, nah, I’ll just check back later.
Guess what? I totally forgot about the order. It was in the system for the next few days and was eventually filled. The next time I checked my trading platform, I noticed the screen registering a loss of a few hundred dollars. I was like, where the heck did that come from?
Realising what had happened, I checked the charts for that stock again and found that the technicals were also not looking so good. It looked like the short-term trend line has been broken. So, I sold.
Moral of the story: Keep track of any orders placed. If the order is supposed to expire, then fill in the date and time of expiry. Don’t be lazy.
Definitely not repeating that mistake again. Bloody hell.
Now chill with Regina Spektor’s “Us”.
Disclaimer: This article is not a specific nor general advice on managing or investing your money. This article does not constitute a recommendation nor does it take into account your investment objectives, financial situation nor particular needs.
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– CFD Trading : An Introduction
– CFD Trading/Share Trading : Setting Stop Loss
– CFD Trading/Share Trading : Stop Loss in Perspective
– CFD Trading/Share Trading : Being Long and Short (Concept of Short Selling)
– CFD Trading/Share Trading : Short Selling in Perspective
– CFD Trading/Share Trading : The 2% Rule
– CFD Trading: What can be traded with CFD