STUPID STUPID STUPID STUPID.... yesterday i saw the slow grind up on TRXC all day and it looked like it was gonna be setting up for a solid short if it could gap up and run up to that gap close area. so last night i had my plan layed out, woke up at 5:50 this morning and it was gapping nicely, at the open it had huge volume so i knew this would be in play today, there were also a bunch of shorts on twitter so i knew this was going to be crowded.. i also wanted to try sizing up today since it looked like such a good set up. for some reason all of my rules got thrown out of the window, i jumped in with a starter position of 1000 shares because i was afraid it wouldn't fill the gap... NOTHING on the chart was telling me this, just a random thought....stupid, as it ripped up 15 cents past HOD i cut my losses. 10 minutes later as it was testing the HOD i assumed it would stuff and head back down. so i took a smaller 500 share position, it blew past HOD and ripped 40 cents, i figured it would be a solid time to add, right over the 4.00 area i throw on 500 more shares thinking this HAS to be the top...(chart still hasn't given me any shorting signals. just fomo).. terrible idea, i had to cut losses AGAIN as it was making new highs at 4.20...........flat out ignored my rules and deserve to pay the price.. negative 520ish after commisions
@Juliaann_ it gapped up yesterday and finished at its highs with over 50 million shares traded and over 100 million shares traded today
Thank you. Sorry if noob question lol
One good indicator to look for, when shorting, is fading volume. TRXC did NOT have any fade in volume at all. It actually had an increase on day 2.
@Juliaann The price action at the end of the day is often a good indicator for good Day 2. At the end of the day, on Day 1, TRXC was still slowly climbing up until the close. A stock that ends the day like this CAN (not always) be a good overnight hold and you can avoid using a day trade.
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