[TimAlerts] ITEK will be watching closely. I am interested in a long. No short on this one today for me

Some people started asking me about VGGL next.

 

[TimAlerts] VGGL could have some power but im more interested in ITEK

 

[TimAlerts] ITEK dont underestimate this one. and VGGL if ur not sure its better to not trade it then

Next, someone in chat said that I shouldn't buy ITEK because that would be chasing. My response was this:

 

[TimAlerts] its my #1 watch right now. I will chase if an opportunity arrives. Don't do this if you aren't comfortable with it. ITEK

Now, I had no idea that ITEK was going to be a supernova today. That was incredible and unpredictable. What I did know was that it was not a short and that it had huge potential for a long. I can't really give a straight answer as to how, but identify a morning runner before it happens has been something I've obsessed about it ever since I started trading. I used to ALWAYS miss the morning runner and found myself in a stock much less exciting. It used to get me down because I would see others banking and I was never taking part in it. I got tired of always missing the morning runner so I started paying closer attention to them and have studied so many of these charts to help me understand them. I'm not saying that I can always predict these things but I now have a huge understanding and confidence to go long when I think something is about to run. It also feels great to be accurate in identifying them while others are thinking it's a short. Sorry if I am sounding arrogant. I'm really not and the truth is that many people did much better trading ITEK than I did. I have a problem of taking profits way too early. I managed to successfully trade it twice today for a total of just under $500 in profits. Both of these trades were done when ITEK was in the low $8 range.

I am happy about the gains, but definitely not satisfied. To think I sold in the low 8's instead of potentially selling in the 16's makes me realize how far from greatness I am. I am always struggling to hold onto a winner. I have a bad habit of taking profits way too fast. Taking profits early is not a bad thing as it is what got me where I am today, but, now that I am trying to get to the next level in trading, I am trying to break this habit. The problem is that not taking profits also ends up hurting me sometimes if I try to hold out for more and it gets reversed. I guess there is no right way to trade. I just need to take each trade on a case by case basis and continue to gain experience.

Sorry about the long post guys. I get that this is kind of a rant that most of you don't want to read.

To conclude, this was the biggest payday of my life. I took 0 losses today and ITEK was definitely a big help, but the bulk of my gains came because I closed three positions I was swinging. I had held SHAK and DANG for a while and recently had bought GPRO. I took profits on all three today. Sold GPRO way too early but am happy with the SHAK and DANG plays. It feels good getting rid of these positions because now I am position free and don't need to worry about anything. I like swinging some positions on the side while I am daytrading, but to me daytrading is ideal because you get to be stress free once the day is over.

Sorry again for the long post! Follow me if you want to stay up to date on my trades and blog posts. Thanks for reading :)