Did my first ever day trade and I am glad I popped that cherry. It was fast just like my real first time if you know what I mean. Nonetheless good experience. Bought 500s of EURI early morning at $1.41 and sold into the lunch time at $1.59 right before it fell to $1.41 again.
I'm not happy with the trade because honestly I wasn't looking at this stock intently on my watchlist and I didn't properly study it but I knew it was on others watchlist in the community and I began to see the run up a little to 20% gains in the morning and was hesitant at first...honestly I chased it...then just decided to pull the trigger and play it. Watched it intently before going to work...ran up to $1.70 about 40 minute after my trade...felt like I should have sold then, but was trying to be patient (because I really am, I prefer going long b/c I have never shorted before, but I know that will change) and see if it would get to $1.75 which was my objective. It didn't and then started dropping but didn't breakdown through $1.50 which I expected. But DANG...how I wish I sold it in the high $1.60s.
I even took my eye off to get my daughter some juice because she had just woke up and the darn thing drop 10 cents in a minute...that's when I said..."heck no" to getting her juice in the future (just playing) that's my baby. But after that both daughters were up and I needed to take a shower to head to work...and you know it...I took my phone in the shower to watch the streaming prices on my Scottrade mobile app. That was a fast shower.
But here is where I knew I made the mistake...I should have just sold the stock before leaving the house at $1.64 for a positive $100 profit so I could go to work and not be concerned about what was happening to the stock and if it ran up higher SO WHAT...I got my feet wet and that's what matters. But since my wife was talking smack about only being up $100 I figured let me wait to see if there was a run-up during the lunch/afternoon time. Won't do that again...like Tim says take the solid profit and keep moving.
Anyways I got to work...made sure I was on wifi and continued watching the stock. It wasn't doing a dang thing...I wasn't working which I should have been so I sold the shares to lock in the $70 profit. Small but meaningful. And I live in Cali so my purchase was a 6:41am and sold at 9:27am. Honestly I could have been in and out within the 1st hour with $100 profit and I would have follow my original trading plan of doing what I need to do in the morning (unless I plan on going long for a day or two) get in, get out and focus on my job and other business that I do.
Practice makes perfect and I am glad I have this platform to share the experience and get feedback. Not a Tim Sykes Challenge student yet, not a subscriber yet, using the free version of Profit.ly simple because I ain't got the money yet to make those investments. But I am all over Tim's youtube page and watching every free video and twitter feed that I can find.
Dang I just said a lot, but whatever...Time to go night night!
@Cheysongfit I use Scottrade...no fancy platform right now...no level 2...i can only stream on my ipad and phone. just keep at it. thanks for reading my post
Really glad that you got out lucky on this one. Not at all a terrible trade for your first time. Don't let your wife manipulate your trading tactics either man lol. Having too much pride and greed has never done much for anyone in the market. It's hard and I'm still trying to follow Tim's advice as well as my own rules, but don't get too greedy. Set a target, get to it, and exit promptly. The community is great here, really reconsider getting Tim alerts as you get more profit in the market. Reme
Remember take it slow and easy and play conservatively like Tim. See you in the market!
welcome !
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