So this morning I had a $119 profit on RGSE. I wanted to get in at 2 when it broke that resistance premarket and had a news release. Spiked almost right away. Could have got in but really just procrastinated because of not the most volume. But for sure I am going to start looking earlier in the premarket gainers for plays like this that have news and that seem to have strong volume and have a support and/or break resistance levels. I would have had about a $500 gain if I was able to get in at 2 but got in at 2.40 when it had its first pull back and held 2.45 strong. Risked 2.30 and almost touched it but thankfully didn't crack it. Came back up and had trouble breaking the 2.49 level so sold 400 there then last 600 at 2.58 due to fear of panic at market open. Not a good trade because I chased.
Need to start looking later in the day for over night plays. Only have 2 day trades left between both accounts and its Wednesday. Need to start looking for strong gainers that are holding gains with news at end of day for possible next day gap up.
Also- don't just buy a stock if you see it spiking. That's chasing. And that is not a damn strategy. GREAT WAY TO LOOSE MONEY DOING SO. Don't just wait and look for support on a pull back and try to get in. There will be more plays. One stock won't kill not to trade it. You have to look and see where past resistance was. You could be buying into the top. And you don't HAVE A PLAN!!! Only get into stocks when you have viewed it over and have a plan(risk/reward).
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