Hey Everyone
I started trading this year with a 3k account with IB as broker.
Today's trade for me was $NXTD after the morning spike and when help $1 and consolidated had a good support. Alsow it was a good gap up and with the spike i tought it would have still juice to spike even more if the $1 can hold es support. I saw alsow a bulish flag pattern and with that in mind i bought 600 share at $1.04 because at $1 would not fill me up. Initially whanted to enter at $1 and risk would be at $0.95. 5c would be around $50 as risk. Obviously it had a bigger retracement and i was stoped out.
If i have done mistakes please let me know so i can learn from them.
My analisys was on the right track on this trade or not. Please comment and share your opinion because this is how i will learn.
Thank you.
Good job getting out early, but from my understanding watching the trade recaps from last week on it and from chat, NXTD is crap and it's being pumped enough to stay at $1 so they can still be listed. I wouldn't recommend trading something like that specially after it's already made its big move last week. But that's just my opinion I'm still new.
I was trying to play the volatility. If i would have waited a dipbuy would have worked. 10% is more then enogh for me. This is only technical analisys..
If it already had its big morning spike, I wouldn't touch it right away. Usually after a big spike it gets choppy all day. Wait for it to settle down and find your buy point somewhere into the close where the volume picks up. I'm personally looking at buying the breakout at 1.08 this afternoon
Looking at the chart right now this was ny tought exactly. Chased it and paid for it. Retracement was not enough, the setup that i like are consolidation and higher low
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