Net Pacific Finance

Net Pacific Finance Naked Short, 8 March 2017

Posted this only after the trade because the trade only kicked in around 3.31pm.
Doing naked shorting means I need to cover my position before 5pm. So that means I only have 1.5 hours for the market to move in my favor.

Goes to say I need to be glued to the screen rather than blog about it.

Overall it was a good trade with the right signals in place. Closed partially @ 74 because there was panic selling @ 72 73 region and experience tells me price will bounce back up. Hence, I decided to close the remaining lots @ 74 rather than queue @ 73 and suffer possible reactions.

I seldom do naked shorts as I had a real bad experience with Aussino when I first started trading in 2013. I remember that particular bad trade I lost 2k++ intraday. But that was when I was a greenhorn and do not have my systems and rules in place.

Thank you Mr Market for this trade today