I shorted $GERN this morning at 2.40 and watched it all day before deciding to get out at 2.38. When I went to close my position, I SOLD my short position meaning I just added another short position. Complete mistake on my part - I am also out of day trades so couldn't correct the problem without invoking PDT rule. Only path out is to hold both positions overnight and BUY TO COVER both positions in the morning. What a noob...! Only silver lining is I now have one more day trade for the week.
Posted Feb 15, 17 4:27 PMbyhuperauxano
Tickers
GERN
From looking at the 1 year chart you should get a good morning panic. Plus it's the first red day with volume decreasing.
Like we said, you banked! Congrats on your profitable mistake!
Good job, always study the past!
Thanks guys - I just got to the part in the Pennystocking Part Deux where Tim is talking about 1st red days. So nice to actually live the trade idea while learning about it.
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