Today I was listening to the Steady Trade podcast with Roland Wolf, and he said that he held positions overnight to avoid using his day trades when under the PDT rule. This clicked with me, and I'm researching holding positions overnight.
At 3:59PM, I bought 1 share of DPW at $5.00 because it has been having strong openings lately, and I am a little weery but we'll see what happens.
Update: 9:36 am, premarket prices were at a high of $5.30, opening bell it dropped to $5.00 and played around the $5-$5.10 area. I held and waited to see if it'd jump up or drop down, and I set a mental stop loss at $4.95, sold when it hit that mark.
9:55 price is at $5.20, watched it rise to $5.35 15 mins after I sold.
hope you like waking up to a gap down, i wouldnt recommend buying a stock thats up like 1000% this past month, especially with a red candle like that on the daily, good luck!
Looking at the 20ma line it is at 5.07 and it has a slight negative slope to it. I don't buy a stock unless it crosses the 20 ma line when this line also has a positive slope. I think DPW could go in any direction at this time, so I would consider it too risky. In the past I made a lot of costly mistakes holding overnight. But ... 1 share is hardly taking a risk.
@moneybags97 haha yeah.. I'm halfway expecting that but we'll see in the morning
@HFTrade it is 20% of my account though.
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