This morning I was watching top 3 stocks on Tim's watch list and also looking up top movers on my screener in Stocks To Trade ( great program ). Thought I'd watch CBLI. Did some quick research and saw it was above multi-month highs. While watching both ZENO and CBLI I wanted to play one of them when the price action was right. CBLI was bouncing around 2.13 for several minutes and suddenly jumped within a minute to 2.50's. Finally bought at 2.55 as it adjusted and of course went down to 2.40's hovered there for awhile. So I decided to cut losses at 2.47. Low and behold 2 minutes later it went to 2.60's and then 2.75 before coming down.
Lesson learned: A first day green stock should be a little more patient. But I'm happy I stuck to my plan and cut losses quickly.
Second look later it went to 2.88. Could've, would've, should've doesn't make for a good rule though. Using this for my back log of wisdom for future plays.
A lot of Tim's rules from this video solidified 4750-4761: The 36 Best Lessons I've Learned In Lifebytimothysykes
Learning stock trading from a Crazy stock trader Tim Sykes!
should have hung in there! hovering at $3 now! I made the same mistake, lesson learned
if you checked daily chart you would have seen a support level @2.06 and when it opens after the first spike and then you could dip bought it somewhere on the 2.10ish risking that level, i think its better than buying on a spike .. this is my point of view .. yours could be correct but you dont have a soild r/r .. its ok bro every loss is a lesson and you must write it down so you wont forget it next time .. also another play would be long the perks after consolidation ... good luck
I'm still learning too. I bought at $3.10 and was about to cut losses at $3.03 then shot up to $3.30. Lesson learned. Be cautious but also patient!
Atleast good you cut losses quickly Learn from it and do better next time is the only way! =D
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