I just wanted to make this post as I'm sure many others have experienced this. Friday I bought into the highly anticipated supernova $HTGM at $10 a share in the early morning when I noticed its potential by 10:00 a.m. I held and watched it spike some to sit around the 11's and around lunch time it goes to the 12's and hits the low 13's. The way the stock had slowed down in momentum so hard, all the bag holders in stocktwits were talking about "Watch this hit the 20's today" and I'm just sitting here like, "We'll be lucky to see 15 the way it's slowing down and it's already past peak hours+ it's a Friday so there will be inevitable late day sell off into the weekend. So I decide against my better judgment of selling in the 12's mid day due to greed hoping for another bounce to beat the $13.25 high of the day which didn't happen. I'm literally staring at 15%- 20% in profits all market day and never lock in. It gets to around 2:00 p.m. and I figure if this thing is going to move at all then it will happen before "power hour" due to the fact of the weekend selloff. 2:00 p.m. looks rather doom and gloom still and I see and know this but continue to bag hold anyways.
Long story short, it fell for weekend selloff and I decided to just hold it over the weekend and just say "YOLO". This Monday morning I was shocked to see it in the 12's in premarket. I'm with Robinhood so I can't trade pre/after hours but I put in a limit order for the open to sell at $12 no matter what happens since I was lucky enough to get a second chance somehow. $HTGM opened at $12 and got to a high of $12.07 and so I got out by the skin of my teeth this time and didn't try to baghold further and say "Oh, well it's opening at $12, it might hit $15 today." That's idiotic logic for the market guys. Even though I got over a 20% gain here, I'm never going to be results oriented about it and I'm still pissed off at myself because this should never happen. I could have easily been looking at a 20%+ loss here on the market open. I just say all of this to tell you to not to be like me, don't be that 90% of traders who lose, just to try and make that 20% win a 30% win that you might not ever get to see. It's not worth it at all. As Tim Sykes says, 1 huge trade isn't going to make you rich but it's the small consistencies over time that will. Good luck and happy trading guys!!
Did this exact same thing with the same stock! I'm probably going to hold and wait it out. how about you?
@mcatwinner I sold on the open today at $12 a share.
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