The GOOD- This week I only traded once, I didn't really like what was out there. On my trade on $HOTH what I was seeing was a mid float around 23m and it had bio news. The one thing about the ticker was it was already up 100% in pre-market and took a smaller size. It was the pattern I wanted which was a dip and rip pattern but I got stopped and followed my risk. The rest of the week sat on my hands.
The Bad- I let the $HOTH trade get to my head and not take a great play the next day which was $LIXT. If you look at my watchlist on April 12 it was my top play. Perfect set up, it was a 3m float, had news, and had no overhead resistance. The last second before taking the trade I thought back to $Hoth and how it was up 100% in pre-market and got spooked. From my initial entry spot, I wanted the ticker squeezed up 84%.
Lessons- As Tim Bohens and many others say, there will always be another trade. One of the struggles right now is going hard on myself when I miss trades like this and kills my mood for the day. I gotta relax and know trading you will lose. I gotta take the trades I know that are A setups and even if their B setups at least take a smaller size trade for data.
Lastly, I do recommend TDAMeritrade it's free to use and you can rewatch days. If you have it, go watch $LIXT on April 12 and watch the volume, level 2, and time and sales.
Leave a comment on what you're working on, and hit me up on my Insta Anthony_rodz180 if wanna talk and maybe in premarket to bounce ideas around. I trade every day so ill be up.
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