So I bought $DNR @ 2.15 Thursday in the afternoon planning for a swing trade. 10 mins after open today it's up to 2.30. Then 5 mins later drops 7 cents. I panicked and sold. It proceeded to run the rest of the day up 50perc. As @timothy Sykes says, at least I was on the right track. Still burns though.
Posted Mar 04, 16 9:31 PMbykmartindra
Received 2 Karmas
@kmartindra you're on the right track! Remember in the morning stocks tend to be very volatile if you think a stock is going to rise you need to give it time to. I would say at least wait until 10ish to see if things are going you're way (you have to be able to ride out even though its painful to watch sometimes lol but at the end its worth it). But if its not going you're way around that 10ish or a little bit past then cut losses quickly!!
Thanks for the advice. Disappointing as this miss was it actually boosted my confidence. And I know that will help me ride out my picks as you say.
You probably panicked because your size was large. People get emotional when they hold something too large for their account. It's like placing a large bet in poker. Also learn how to read price action and wait for support and resistance so you get an idea of your risk.
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