Paper traded TTCM this morning.
Plan: Dip buy at support level around .014, with plans to cut losses if price went below .0135, goal to make 10% and sell at .0153.
Entry: Bought 500,000 at .0139 at 10:08am eastern.
Exit: Sold 500,000 shares at .0163 at 2:55pm eastern for total paper profit of $1,250!
Summary/analysis: Great outcome however to be honest I should have been paying more attention and sold on the first spike at .01575 around noon EST, but had to leave the market for a few hours to take care of some other stuff. Price fell back to entry point around 2pm EST. Ideally stop loss would have covered my risk but still not a good idea because in a real trade I could have lost potential profit or worse if my stop loss didn’t kick in, so in a sense I got a little lucky there was a second spike when I returned to trade.
All in all I’m happy with my trade plan and execution but I need dedicated time to real trading in the future, so I’ll work on managing my time and schedule moving forward.
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