Just started trading live this week with my fairly small account. Used up 2/3 day trades the first day from the excitement to jump in. Because of that I lost $30 right from the start. I don't mind because I'm focusing and developing an overnight trading system, to bypass the PDT rule! So I'll buy a stock that I like after much research and putting together a watchlist to choose my play from.
So I picked $AVXL. I found it after playing with the scanner on my trading platform. Then I looked at it's fundamentals.. These stocks have to meet guidelines I've learned for Mr Tim Sykes in his DvD HTMM. It met all the criteria, ands it will have an earnings soon but that doesn't matter at this point.
I then dove into the technical analysis and that's where I knew this was going to be my play. It had previously spiked big but has been dead for awhile with it finally hitting a technical bottom. So I bought in because of my thesis developed now.
First buy in 2/3 BUY @4.23- SELL @4.47 (This was actually my 3rd day trade)
2/3/16 Buy near the close @4.40 Sell 2/4/16 early into spikes @4.72
2/4/16 Buy @4.62 and will sell into morning spike or worst case cut my losses early. But after hours is already up and looking like it will go into the low 5's.
Nice man!!
Sounds like a good plan, keep it up.
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