FBM KLCI continued to be bearish today and my stocks hit their respective stop loss points. MMODE's stop was at 24 sen and PERDANA was at 66 sen.
I've already closed my MMODE trade but my broker called me a little late with regards to PERDANA, so I'm still long that stock with about 15% exposure. Nevertheless, I'll most probably cut if the bid is at 66 or higher tomorrow.
Initially I planned to risk only 1% for both trades. However, since I heard rumours that a large party was to take a majority stake in PERDANA, I decided to lower my stop loss point from 69 sen to 66 sen, just to give the trade a little more room. In hindsight, it was a costly decision. Perhaps I wasn't disciplined enough here. Nevertheless, if this stock acts bullish again in the future I would not hesitate to jump in.
I sold MMODE according to plan - although the brokerage fee is making it making me lose about 40 basis points more than I should.
Will compute my total equity once I sell PERDANA tomorrow.
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