UAVS

AgEagle Aerial Systems, Inc. is an aerospace company.
They build drones.
A small microcap at the time of this writing (85m)
42m outstanding shares. (hehe)
38m float

They ran during the crisis because they are a drone company and some official – I don’t remember who – was saying that prescription drugs were going to have to be delivered by drones. So, naturally, this drone company ran then and gained popularity.

I believe it was popular before then – a well-known name to traders – but that was before my time and certainly before my experience with it.

Anyway, it has had some hype recently and today it broke out – broke 10 day highs (which peaks my interest) – then set up a kind of cup and handle/ascending triangle/ higher low pattern. Whatever you want to call it, it was going to break out again.

I saw all this on Stocks To Trade.

I didn’t know why it was running, honestly, but I knew that it had traded twice its average volume and almost rotated its float.

Seeking Alpha said, “New Financing, Hew Highs”.
Pennystocks.com was pumping it as a COVID play.

I wanted in!
My platform was closed, as I was giving myself the afternoon to enjoy my best week ever – better than ALL of last month, this week still is.

But I hopped in to see what was going on into the 2 o’clock hour because that’s when VWAP holds hold the most VWAP.

And there it was.
All glorious and beautiful.

But my platform wasn’t open.
So I race over to etrade, open the platform, throw up UAVS
Data not available
Fuck you, etrade. Gimme.

So I click around like you have to with Power Etrade.
One month.
Clicks over to $SHLO for no reason.
COME ON
Back to UAVS.
Screen won’t load.
One month.
Screen loads.
One day.

UAVS is at 1.94 already.

It’s a breakout. It’s got tons of volume. It’s a vwap hold. It’s a high of day break.
I get in.

It looked like a bullflag was forming. I didn’t just hop in. There was a recognizable pattern within my setup that I could put my faith in. I put my order in at 1.93, but it was so wild and I wanted to make sure I got filled, so my limit buy order was for 1.95. I got filled a little over 1.94

My first stop was at 1.84, just below the dip before the pop.
But, I was thinking I got into a bullflag and if the bullflag failed, the stock might fail.
So I moved it up to 1.89.
But then the whole stock was looking weak. Couldn’t rebreak 1.95.

So I got out.

If I had stuck to my original stop and held to 2 again, I could have got 2.
A very weak profit, indeed. And I would have had to hold through a lot of chop to get there.

I like my trades to be comfortable.
Get in. Pour a cup of coffee. Pet my dog. Age a year.
Then have a breakout.

I need work on working through the volatility.
But I want to do that work from a lower entry, with less risk.

That’s okay. I’m not hurt about my $3.
This is why I trade small while I’m learning.
This is why I’ll keep trading small on my B- setups.

I guess, even at my best entry, it would have been less than a 10% gain – but I could have held through it. I would have had an opportunity for patience and volatility survival practice.

With my entry, hope was my only option.

And

HOPE IS NOT A STRATEGY