My TSLA Story
Oct 24th 2019 TSLA gap up on earnings, I did not enter since the base was too deep and it was not a proper structure. Nov 22nd was Pickup truck release and Elon breaks pickup truck glass in front of tons of people and stock gap downs 6%. But after that event it keeps holding, volume dries up, showing tight action on the chart. 25% of the TESLA float was short plus after bad news it was holding well so on 12/2 I bought first position at 330 stop at 310. Added more on 12/6. Now I have QCOM 1999 as a precedent, TSLA does climax top on Feb 2nd, I did not sell, because it is too early for climax top. Then here comes covid crash, as I know myself if I miss my sell rule I will end up selling at the bottom, sold all 3/17 two days before the bottom. Lesson I learned is when you see the climax top at least sell half . Leaders always give second chances so on May 29th 2020 I again bought TSLA for around $830.Added a few along the way and it became my largest position, on Feb 26th 2021 sold most of my shares as it broke the 10 week line and kept a small position.
Reason I kept small position, I thought TSLA is next AAPL. I want to hold it for next 10 years. But again I end up selling on Sep 26th 2022, and it might be bottom, I don't care, don't want to think about it.
One thing is clear: if I grew up mastering William O'Neil strategy, I can not trade with Warren Buffet style. Holding through the bear market was very painful. I was not able to relax, my mind kept telling me TSLA triggered sell rule, it is below 200 dma. My integrity kept asking me questions, am I not following my rules?
Lesson I learned.
Master one thing! My core system is CANSLIM so I better focus on mastering the same game where I have a proven track record.
Trade set up, not the stock, my goal should be to find the next TSLA rather than getting attached to TSLA stock which already had a huge move.
Peace of mind is way more important. If I am stressed, it drains my energy and I lose focus. You need very sharp focus to master any game.“The time that leads to mastery is dependent on the intensity of our focus.” – Robert Greene
