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Many things wrong with this trade...chased the spike, got greedy and didn't lock in easy quick profits, didn't cut losses quickly. Simple but costly mistakes.
Was playing the January effect. Chased the stock and bought multiple times on the way up to get my fill. Quickly made 1k but I got greedy and didn't take profits (again), allowed the market to take my potential earnings and last weeks earnings (again) Just sat and watched my hard earn money disappear from my account. Hope I can get rid of this debilitating habit.
Was a recent spiker with good catalyst. Bought into slow morning spike. reached its top fairly quickly and exited the trade before it slowly reversed.
Perfect January effect! Beaten down stock the last couple of months, positive news, low float, high volume = morning spike!
January effect! Beaten down stock the last couple of months, low float, positive news, high volume, January = January effect/morning spike.
Need to cut losses quickly. Need to protect my money.
Broke even on this trade. Didn't do what I wanted so I exited the trade.
Don't remember the reasoning for this trade. Pretty sure I bought and held this trade until I made some of my money back. NEED TO CUT LOSSES QUICKLY AND STOP HOPING FOR A BOUNCE.
Bought at support level and added to my position when as it dropped. It worked out in the end but I should have cut losses quickly instead of hoping for a comeback. Bad trade.
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