Guys,
The reason why I am writing this post is share some thoughts on my trade today. Even though it was a trade that was not as much as I liked. I felt that this was my trade that I have been working on. I never really had any luck from before because I broke several rules(chasing Tim's alerts, random trading) but after video after video I feel that this has really paid off and the potential is great. I have been watching several of Tim's videos on dip buying earning winners and pump and dumps. I decided that I want to grow my account through dip buying. In Tim's videos I always remember the phrases he uses and try to figure it out. The only way I can figure it out is through expierence.
"Dont force the trade, let the trade come to you" was a quote that Tim says in a video. At first I didn't really get it until now. I have notice $LOCM over the weekend due to its volume and it was a high percentage gainer on Friday. So knowing that got me curious on what could mean for today. It didn't really have much of a strong start right away but it did have a steady price action. So I decided to keep watching that all through the day. At first I wanted to just buy it but I wasn't sure. So of course I just let it be. I wanted to kick myself because it was going up to .15 from .04 in around 9-10am. Normally I would just jump on it but I recognize that I made that mistake several times before. So I decided to just wait and wait. Saw that it got a high to the .16s and was dropping intraday.
As it fades throughout the day I thought that maybe this would be a good opportunity to dip buy. But how will I know when? So I waited. And I waited. Then it came to me. I notice that the price was staying steady around the low .10s. Then I remember from another video. its consolidating. So I decided to make a trade. Because I knew if it didn't go the way I would like it then I would be ready to close. But I also saw that it has a huge potential for a upside. So it felt right to make the trade. I bought at the low .10s and with a nice position size. I saw the low risk by cutting my loss quickly if it goes to .09 but there would be a huge reward if it goes past .12s. So I made the trade and watched it like a hawk. Saw the upside of getting almost 300 in profits but Id let it sit. I did so because I was determine whether I should hold this over night. Well the action was so volatile that it didn't really spike the way I would like and I went ahead and locked in my profits. I remember Tim's saying "trade like a bitch" lol. So I ended up making 180 before the closing bell because I know that would be good time to sell. I though about holding overnight but I felt that it was greater risk of losing than winning. Overall I am happy because its a step to be self sufficient and not follow anyone but myself. I saw that I took a low risk trade with a big upside. I have an idea what Im looking foor and how to capitalize. Anyways thanks to Tim Sykes and his staff. Im really looking forward for the next play that'll come around.
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