Underline8

After my trade review on Thursday, I couldn’t help get a little bit itchy to put in some sell orders when I saw the sector still flying early Friday morning. When things start stretching this fast I want to lock in some profits along the way.

Unfortunately, I don’t like to trade when I’m on holidays. I hate finding myself checking stock prices when I should be spending quality with friends and family. I had a gut feeling that the sector might pull back and I want to lock in some gains if it does, but I don’t know when it might happen.

I decided to set several stop-limit orders for my positions in WEED.TO, ACB.TO and LEAF.TO. To keep it simple, I simply used the daily VWAP to use as my tipping point. I walked away from the computer and let the orders do their job.

It wasn’t very long into the day before all my orders were triggered and executed.

2017-12-31 23_27_20-WEED_ 29.740 ▼−2.2% — Dailies — TradingView.png2017-12-31 23_28_56-ACB_ 9.600 ▲+7.38% — Dailies — TradingView.png

I did break and attempt to look at the stock prices when I started getting texts from friends who were giving me updates on the MJ market sector. I say attempt because it was impossible to log in to my TD app or TD web platform. TD is absolute garbage when the market volumes get heavy. Thankfully I had my stop limit orders in because if I didn’t and if I wanted to sell something, I wouldn’t have been able to do it!

I was surprised to see the closing prices though, as they all rebounded quite well. Nonetheless, I have no regret selling portions of my positions. The marijuana sector has made massive gains and I’m completely content with locking in some profits!

I’m very curious about how the first week of 2018 will go. Will the MJ rush continue? Will people profit take in the new year because it’ll be the next tax year?

I have no idea, but I’m looking forward to going into 2018!

 

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