Received 9 Karmas
Pig_Demon
Pig_Demon Dec 11, 16 11:19 AM

I think you get confused between resistance and support at times. An example being yourtrade on BSNO where you say it has support at 3.20 but I see it as resistance because it's a point that the stock can't breakthrough. Now it did have a breakout over 3.20 but once it starts to fade you should see that as a point of resistance and a signal of a failing breakout not as a level of support.

Jonk87
Jonk87 Dec 11, 16 7:47 PM

@Pig_Demon fair point if it can't break over and stay over it's resistance I'll keep that in mind. Cheers.

hutchstock
hutchstock Dec 12, 16 1:31 PM

@Jonk87 Good call. I obviously still have a lot to learn. Thanks

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Kerry57

[TimChallenge] $FRBK was up on the news of a new CEO but the jump was too much based on the research I found (the stock was valued 3.70-6.00) so I waited for the first red day (Pennystocking 1) and shorted it after it peaked at 7.50 resistance. Thought I read it right but OTHO it's a bank and I seem to recall Tim not playing banks very much. This is where a mentor would be great--to review my logic and learn from his experience and the charts I read.

Kerry57

[TimChallenge] Thanks, at least I stuck to my pre-trade plan and cut the loss. Kinda pissed I missed NVCN & IDXG run ups though. Had mental entry spots on both but decided not to chase cuz I though they were both up too high. Wrong. Much more difficult with PDT.

Jocelyn

[TimChallenge] I get scared when I see any profits disappearing so even before it has hit my risk I am out!! Seeing everyone making money sort of propels me to look for trades that I have in the back of my head but not for that day. Like $SGY today!

Received 1 Karma
Jocelyn

[TimChallenge] I have a real problem I cut losses far too quickly and then two minutes later find the stock has done exactly what I want it to. I am playing the less volatile stocks as they scare the pants off me!!! But I am not making head way. AND yesterday I had a plan for NVCN it spiked exactly as I thought but I didn't short it, as it was just before the close and I am a real chicken!! Any advice would be appreciated I am driving myself crazy!!!

Jocelyn

[TimChallenge] I must remember the r/g move on earnings winners CARA beautiful shame I missed it!!!

Jocelyn

[TimChallenge] Waiting to see what $NAVB will do. Like Tim said the news isn't new so it may not do anything!!! Also watching $DRYS I would just feel better if I could find shares to short!!!!

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