So this blog post is to recap one of my recent losses and to ensure I 1. get it written down and thoughtfully go over what went wrong, and 2. to hopefully teach myself to not do it again.

So on 11 Feb 2021 I bought 52,631 Shares of $HMPQ @ 0.0096/s. This is a 505.25$ position. I had noticed on 10 Feb 2021 that it was a green day after 2 red days and was hoping for a morning spike that I could buy into and sell into. Now the stock did exactly what I wanted spiked in 4mins from 0.0095 to 0.0125 in 5 mins this was a net profit of 657.88-505.25= 152.63. That is almost a 30% gain! That's where I got greedy, I saw my P/L and was like " YES I want more money".

Also, its not like the stock dropped right away it held between 0.0120 and 0.0126 for an other 6 mins! Then the stock dropped to 0.0110 I'm still green I'm still UP but i wanted MORE! Then it dipped below my entry so i thought I lost my shot to cash out. Nope, rebounds to 0.0110 and through the rest of the day it holds between 0.0100 and 0.0105. This means I had ALL day to take gains and I didn't, because I wanted more in my account, I want more P/L! So I decide to hold overnight, this has to rebound again in the morning, I will cash out then I am thinking.

Well on 12 Feb 2021 I am right it rebounds! Yes I ill take this when it gets to the right amount I want to see on my P/L. I didn't know what that was but apparently it wasn't what was showing. It held 0.0108 ish for 5 mins that morning before starting to drop, then held 0.0100 for another 5-10mins before crashing below my entry. I had my risk set, which was "I am willing to lose no more than 100$ dollars on this stock" well 100$ comes at you like a freight train when a sub-penny stock drops like that. I have never had a harder time entering an price to sell at before. 

I screwed up the limit by entering a price to sell at that was above the current price simply because I forgot in the moment that I needed to make sure it was less than the current price. I ended up selling in 2 batches 1 batch @ 0.008 and one @ 0.0086. This was a net loss of -80.40. A 230$ swing from the highest I could have sold it for, and not a speculative high, I was able to physically enter the price for 3-5 mins and probably get executed at that price.

However, greed, wanting more and watching my P/L and thinking "Thats not enough!" ended up costing me almost my entire risk.

So What Did I Learn (WDIL) --

1.) First off the exit plan I thought I had didn't exist. It was simply I want to profit. Based on the 3yr chart back in June of 2019 it had hit 0.0150 but that was so far ago that I just made an assumption that it had no top currently.

2.) I was not paying attention to the collapsing of the weed market, I was entering on the tail end of the surge without even paying attention to the overall picture I was playing in. This will come to bite me in the other stock i was playing at the same time, check my $CBDL screw up.

3.) This is the most important one I GOT GREEDY! I was watching my P/L I was watching my gains and thinking "I CAN GET MORE" I didnt even calculate how much it was up, a 30% spike was huge for that cost of a stock. I wanna think if i had simply known how much % that it was up I would have taken my gains, but I will never know.

Actions to take to fix this. I have turned off my P/L.

I will have the % of movement for a stock known ahead of time, if I am playing the stock I had better know the number that is a certain %. 5-10% on a stock is a good range, I have 3 times that and still didn't get out, possibly because I didn't know, but most likley because I wanted a bigger green number.

HAVE THE EXIT PLAN AHEAD OF TIME! Not just "Make money" have something in mind, not a perfect target not a specific number. Something you can point to and go "Yup that's it i'm out". Whether it be the stock is not doing what you want and you get out. Or the stock has hit a range or price action you were expecting to get out.

Also for sub penny stocks I need to re-think my risk reward, the way the price action moves and the size I was at made swing very fast and hit my emotions differently than I was expecting. 

In the end I now need to implement these to course correct and understand, I can not get greedy. If i do it will end bad. This loss was 1/3 of my gains from the previous day.