first off this was my first two trades in two years and they were both wins but super super small. lets just say my 2,5000 account is now at 2,518.22 lmao but im on the right track
trade #1 on AVEO bought in at 3.90 little tiny support there on chart, it had opened up at 4.20 and quickly droped so i was looking for a morning bounce at the 3.90 support level witch did turn out to be the bottom at that time so i called it pretty perfect. but if it droped below that level support wouldnt be till 3.85 but resistance was at 4.00 witch was fridays high..horrible risk/reward ratio but i was not thinking fully and to excited to trade (dont do that, dont trade just to trade) ended up hitting 4.05 and dropped right down and played at the 3.96 range with big sellers so i got out at 3.97 for a $12 gain...good thing to cuz it went all the way down to 3.37 shortly after..a good lesson to get out when a stock isnt doing what you want it to.
Trade #2 on AVEO (same day) got back in after huge panic droped all the way to 3.37 but i didnt buy there! didnt want to because it kept seeming to blow thru past support levels so i had no idea where the bottom would be...well it bounced from that 3.37 level pretty fast but i waited for it to confirm it, once it started to level out i bought at 3.4861 it had hit 3.62 and i thought about getting out since that was the previous level on friday before it broke out, but i waited thinking maybe it could break out again. well it didnt and i seen a 20k ask (seller) somewhere in the 3.54 level so i sold once it touched 3.55 again for a gain ...maybe i sold to early now its a 3.70..but it was another scratch and i dont fully understand the level 2 and how to play it in conjuction with the charts so i still need to learn that.
But hey i was on the right path for both trades and im 2 for 2 and tim sykes always says cut losses fast and if a trade isnt doing what you expect to get out and thats what i did. pehaps a little TO impatiant though.. but anyways LETS GET THIS! and good luck everybody!!! stay studying
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