Timothy Sykes and other traders on here say if you don't have a plan then you don't trade and that is how I feel today about my missed opportunity on $HART. I studied this stock last night...did my due diligence and according to my notes it was going to increase I just didn't know by how much but at least 20%.
So I watched it all morning run up from the $2.20 open to $2.90 at around 8am PST when I had to leave for work. My gut told me to get in at $2.40 because I saw the run occurring...BUT...I didn't have my risk vs. reward set in my head so I froze. I was even good to the point of watching it run up to the morning high of $2.50 then come back down to $2.40 on the dip (2nd opportunity to buy and confirmation when it held). but I didn't buy because I didn't' have set in my head when I would exit if it went south.
Gosh darn it I am upset with myself for doing all the research and not finalizing the plan with my in and out price. If you are reading this...always have a in and out target price or you will miss what you worked for and watch it run or fall right in front of your face. And my trade would have been right in the meat of the move...in and out with a $0.50 profit on 500 shares. Small but I am working on building my account.
@jphotline i will have my eye on it
@Tunde1306 thanks for your feedback
the good news is i was on the right track looking at this stock as it was the #1 percentage gainer on yahoo finance today thanks @timothysykes for your lessons
Yea there's no worse feeling than not getting in on a winning trade. I did the same thing the first day KBIO ran. My plan was to buy on a dip, the thing soared and never fell so I never got in. The more I waited the more I felt like it would be a chase. It sucked to watch it explode without me but the good thing is I stuck to a plan and also, if you don't ge tin on a trade, you can't win.. sure, but you also can't lose so meh. It happens.
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