TPLM: Called this perfectly, however, I ended up actually losing money on this bastard today. In my watchlist, I noticed resistance at .38 and predicted that if it could break this it could rally up to upper .50 or mid .60. This morning once it broke .38 I got in a small position at .43 risking .05 and hoping for .15 gain. Minutes later it cracked back down to .37, I got scared and got out with a $12 loss on a small account. This stock ended up rallying later in the day all the way to .61 into a close, just as I predicted. My timing was awful, however, I did stick to my plan, so lesson learned: PATIENCE
ASM: Another good call on my part, although I never actually traded this (kicking myself for that) I noticed a b/o above 1.68, which was its' 1 month high and in pm yesterday it was up to 1.83. Its' 2 year resistance was 1.84 and I said to watch for a possible spike if it could break the 1.84 resistance. This stock has no real resistance until around 2.3. Yesterday morning it didn't do what I wanted. However today it broke out and went all the way up to 2.13, I missed the entry because I was out on a run. This stock still has room to continue up, so I may consider trading it tomorrow for a small gain, but I do not want to chase this.
BASIC RECAP/TIPS: After a few months and a few good trades, (and a few bad) I realize I am making the same mistakes, some are actually good mistakes. So far I have noticed I continually
- Have bad timing
- Chase
- Don't do enough due diligence
- FOMO
Many of my picks are actually pretty accurate. I find good stocks and predict how it will react, but my timing is awful. I either have a bad entry or a bad exit. I get scared while I am in a trade and then get out only to find if I were to hold a few more minutes or hours the stock reacts exactly as I predicted it would, and my small loss would have been a gain. Another mistake I tend to make is I get caught up in the hype or I mistimed my entry and end of chasing.
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