This is my first blog post on here. I always seem to find the right stocks to trade, my timing is just off or I get scared. For example, today during my scan I came across $ECTE , they had just released positive news and was up 7%. I had decided to keep on watch but not trade because volume was only 25k, not the 100k I look for.
Up to 30% it went. Volume had picked up to about 65k. Still I sat back and watched.
Within minutes it went up to 50% and volume was over 100k. I thought about entering but quickly saw it pull back down to 40%. I have possibly missed the opportunity, it may continue to go up, as I will keep it on my watch list. I see this gaining more momentum as the volume increases. I am annoyed that I missed a potential 50% gain and had even found it before the spike. This was definitely a learning opportunity for me, although I might have made the right choice because of the super low volume.
This seems to be the case with all of my trades/watched; I am either too early or too late. Back to the books.
It had already traded it's avereage volume early in the day therefore the volume that you are looking for is already there. It's all relative. it's all a ratio. ECTE traded 659k shares yesterday but you caught it early when it had just surpassed its avg daily volume for the recent 3 month period.
Had you realized that hough you might still have struggled with the psychological debate of wether to throw your money down on it. WHen you know for sure in the moment that it is a great opportunity that is called Conviction. It may take you severaly years to develop that sense. You may have to see these opportunities come and go many many times before you recognize it as it unfolds in front of your eyes.
just as @communist_owl said above, it is a craft that takes time to perfect. Mastery takes time and commitment , passion and devotion, yo umay lose money here and there too. So keep your trades small and focus on learning and trading well and trading with consistency and in time you will have the sense of cnviction when you see a trade setting up in front of you.
Lastly, good job for finding it! and maybe it will make a good run the second day. And sorry for commandeering your comments section.
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