Family investment wise, I made a mistake buying Sinopec on the Chinese stock exchange, when I should have bought it on the Hong Kong stock exchange. The H shares are better than A shares. Simply put, for the same amount of money, I can get more H shares than A shares, and even after deductibles such as taxes, I will still get more dividends as compared to A shares. Hence, I immediately set an exit price at breakeven for Sinopec’s A shares and bought in another lot of H shares.
Personal trading wise, gold has fallen by a bit, and I managed to close one of my shorts at just breakeven. As mentioned previously, I had no choice but to admit at the current state I am unable to read the direction of gold. Considering that I have many more shorts opened at a much lower price, logically I should not not close any of my shorts at this point in time. However these gold shorts are jamming my capacity to open other trades as I am carefully managing my risks. Only when I close one order will I open another for now. This is a volatile period, and if I am not careful, I will sink.
Crypto has tanked yet another round this week, with prices falling to frustrating levels. Luckily I managed to close one gold shorts, freeing up 1 trade slot which I managed to use to earn 89.98 USD. Again, another week of testing and waiting so that I can find out my trading style while managing my risks.
