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Bought on the breakout, tried to sell at 0.57 but ended up 0.54. Was my only actual ok play for the day(minus selling too low) overall I suck. PS I'm still trading with small amounts trying to learn.
Figured it bottomed and would go back up due to news but just kinda stalled...scratch.
News came out after halt. Broke past the previous spikes resistance so I thought it had legs to continue spiking, instead it tanked. Should have watched price action and how it reacted to the news before jumping in.
Didn't like price action, scratch. Good call because it did go down after exit.
Was confident this would blow past the 1.00$ mark and continue on. I set a mental stop loss at 0.93ish and aimed for a 1.05ish sell mark which is a 3:1 risk reward. HOWEVER.... it went to 0.97, encountered lots of large sellers and came back down. I got nervous, disregarded my risk reward, and bitched the fuck out. It then went up to 1.14. Lessons learned 1) stick to the PLAN! 2) Don't disregard your risk/reward or mental stop loss 3) Don't let fear dictate the trade be COLD and CALCULATED.
Stupid stupid impulse trade, saw the news and figured it had legs to continue it's premarket trend. Instead it dropped like a rock. I jumped in without a plan, without a thesis, without a target exit or entrance price, and sat and hoped. Lessons learned - 1) Don't trust impulse. 2) Initial breakout or retrace only! 3) Look for % gainer THEN check news, don't check news and hope it's a % gainer! 4) Holding and hoping is not a strategy, should have got out sooner. 5) Tommorrow's another day :)
0.20 ceiling seemed too strong so I got scared. Should have waited but good practice.
Limit order practice and level 2 practice. Limit orders on Robinhood are kinda frustrating so practicing with a small amount on a real moving stock helps. I chose TVIX already near it's top, I predict it probably will go higher given the S&P's performance. Also my nerves are getting much better, even went and played some guitar while I was still in. Level 2 is an absolutely vital tool to have, I have no idea how I traded before I understood it or the Bid and Ask prices.
Never attempt to copy or mirror the trades discussed on this website or in alerts. Attempting to do so may result in substantial financial losses. Alerts are not provided in real-time. For that reason, it is highly unlikely you will be able to buy the stocks at the same entry price, or sell the stocks at the same exit price, to achieve the same or similar profits obtained.
