I wanted to get into VBLT as close to $5.14 as possible since that's where it held after it spiked at 7:30 a.m. in premarket so when it dipped down to $5.21 at around 8:30 a.m. I put in an order but it didn't get filled so by time I put in my new order I put the limit at $5.40, I got executed 320 shares at $5.40. I knew I was chasing into the spike but I also knew it was worth it because this was going to spike at the market open so even though I had risk of about 26 cents/share I believed the reward was far greater than that ($1/share). I saw my $90 profits slim down to around $20. That's when I let my emotions come into play(once again) the pattern was still intact and my plan was still very accurate. But I guess I had to lock in profits because I let the smallest dips scare me out. I sold all 320 at $5.56 for a $51 profit. I am thankful for each dollar I make but I didn't follow my plan that I set out. Because I didn't follow my plan, at the market open VBLT jumped from $5.82 to $6.71 in 12 minutes. If I would've followed my plan I would've probably sold somewhere in that spike making somewhere around $400 which would've been my biggest profit ever. Overall today I left $900 plus on the table if I would've held until the middle of the day.
yes everyday is a learning. I also let (unfortunately still until now) my emotion disturb my plan. I'm new in tradng and learning everyday. we have to manage to control emotion.. i'm in VBLT position for short, just waiting for collapse.
@rabiraz You're right. You just have to learn from each experience you encounter and always try to fix what might've gone wrong. Emotions have been a big factor in all of my trades so far too so I'm trying to downsize a bit so that I don't get as nervous. Goodluck I hope you bank!
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