I usually don't comment on.paper trades but this one I thought interest in. So, I pick up ERMT on the Yahoo premarket gainer scanner on1/5. It's up 34%. It goes from around 2.20 or so and by 9:40, it's about 4:10.( not real sure about time and price). I checked on Press release, and they are a contract winner. I get in at 4.20 with 200 shares at 9:47am. Voice says, "take profits,".don't get greedy. By 10:03 I'm out. .38 a share. Around.$90 profit. Happy.
On 1/6, it's at about 6.36. So...I now take position with 80% of my account ,( I say no way I'd do this with real funds. I'd did that in 2014, and got crushed.)
I get filled at 6.82 with 300 shares at 10:46 am ( What should have done is taken a much smaller position 150, max.) So, mid day.It's at 8.88. Do I take profits? Nope. It drops to 8.37, and I decide to sell 200. Hold 100 over the weekend. I tried to execution, but could get out. So now I'm 300 long until Monday. So, I sit will a little over $900 on the day. Expecting another gap up. This has more than legs. It's a kangaroo. Had I done what I should have, I'd have taken a smaller position, and be at $400 or so for the day. Sell 75 into a morning spike, hold 75 over the weekend, hoping for a kangaroo. Traders unite.
Lesson: this thing was a monster. $5.22 gain! I'm still learning. Is this wags a supernova is? I was too agressive with position size even though a higher gain on any acount. ($2500) That adrenilne kicked in. Had really not exit, no profi/loss. It just went that fast, I just reacted and went with it. Mind you, this is a paper trade. Trying to lean lessons early.
Sounds like some luck with sloppy trading but maybe it's just the way you are describing the trade
@Pig_Demon I think she's trying to say that she gave up profits. What could've been a $900 or $400 day turned to a $5.22 gain.
@Graceunderprsur more important than the loss profits was the lessons. 1. Take profits along the way. 2. Don't be too aggressive, take smaller position size. 3. Have an exit plan. :)
@Pig_Demon Actually I think she meant it went up $5.22 lol
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