So today was my first time shorting a stock. I am using Etrade Pro and am still learning how all this works. I saw $RJET approaching the a new low $1.29 around 1:43 PM and I guessed that it would break down at this point and my risk was $1.44. I was multicasting watching Michael Goode's webinar and trading which I now know isn't a good idea... But anyway the stock started to climb back up and when I tried to cover I accidently hit the buy button because in my head its buy to cover... Well so I accidently bought another 1000 shares at 1:45 and didn't cover my shares I had from $1.29 so now I just wanted to get out of both once I realized this because I definitely didn't want to be in at this point. I was able to still cover now at $1.43 and then I sold the other shares at the same price at $1.45. The stock continued to climb and closed at $1.60. So I could have stayed in and made some of my money back but I didn't want to be in anymore. I will never make that mistake again. In all I lost $170 on the day but right now I have free trades with etrade so it was a real loss of $130. I am so new to this but I am determined to learn this. I am just glad that I realized soon enough before I lost more money.
Categories
Trading Mistakes
Tickers
$RJET
Received 1 Karma
Don't go short on a spike. Being that RJET started at .9599 and rose to 1.11 it was already up around 15%..when it reached 1.29 thats a sign it broke an all time high for the day and most likely would continue to spike like it did. I bought at 1.00 and sold at 1.17 a lot more to capture since it spiked up to 1.62 but I was happy with a 17% gain
Keep going skinner, I can't trade yet because I am under age but I'm studying. Education is key. 💪💵
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