I think IBD Leaderboard summed up my CSTR trade very well in their market recap today. They simply said “not all trades will be winners.” This simplistic outlook forced me to remember that I shouldn’t confuse the outcome with the process.
Bottom line, I closed out my trade on an automatic stop at my 7% loss. It is what it is. It was the most slam dunk sure thing buy decision I have ever made, but the general market and the individual stock both weakened incredibly quickly.
The most important thing is that I got out alive. I have capital to fight another day. With the market under pressure, my plan now is to sit in cash and wait until the market strengthens. Patience is a virtue.