Trade Update - New Oriental Education (EDU)
New Oriental Educations (EDU) is up again today, after spiking higher yesterday on a surge in volume.
I wrote about the stock a couple of weeks ago when I was highlighting a group of Chinese ADRs that were all breaking out. I even took a trading long position in the stock to participate in the momentum.
But last Thursday, when the stock made a new high and reversed lower on the day, I took profits. As Homer Simpson would say, "Doh!"
So I left a nice chunck of change on the table. It is what it is. I can't tell you how many times this happens to active traders. It stings, but second guessing does little to improve your trading successes going forward.
Better to simply review your trades, write down your reasons for buying and selling a particular stocks, and make sure you are adhering to your own trading principles and rules.