Edit: My journey so far - I've been studying all summer. I've watched all DVDs except for Timline, and the SEC filings. I'm on my second time through Penny Stocking Framework and Framework Deux. I have only 1 hour or so left in the last DVD in Framework and will start Deux for the second time this weekend. Currently I'm also working my way backwards through the morning panic price action lessons and I'm on page 15 or 16 or so. Only about 150 videos so far, but I'm making a dent in them.

I think my biggest question here is what am I missing what makes buying $XNET in real-time at that moment on 10/29 sometime in the turnaround on the first green candle an idiot move? I didn't buy it there, but I didn't see it as an idiot move either so I really want to know what I missed. My original ask and details are below. Thank you!

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Please help explain to me the nuance in the morning dip buy between $ALPP this morning 11/6/19 and the first turnaround in the dip of $XNET on 10/29/19. Tim's video lesson about the 10/29 $XNET dip has caused me to hesitate and second guess myself. I want to be sure that I am nailing my entries. Full disclosure, my entry was near ideal on $XNET that day at 9:37 and was executed for $4.3864. My exit was terrible as I held WAY too long hoping for another bounce and leg back up. I sold at 9:58 for $4.59.  A decent profit here, and I thank you, Tim, for teaching me how to do this. 

 

After watching the video lesson and Tim calling  people idiots who bought in that first green candle, I remember being tempted to enter there, too. I want to know what I was missing in my assessment of the action at that time. Here is what I saw that day:

 

As $XNET was playing out, I am looking for the dip and I see that pre-market there was support right in that range of $4.69-$4.80 or so. I watch the panic, then I see buyers right at that $4.76 level along with the green candle forming. It looked like it could be turning around quickly, and maybe that was my mistaken thinking - that the stock would actually turn and rebound so quickly the very next minute. I was tempted to buy here, but time and sales were already up 10 cents or more from that bottom. I also see that there was sideways action/resistance pre-market right around that $4.85 area so I abandoned the dip buy thoughts. I then started to assess whether this would turn into a decent breakout/morning spike opportunity. For the next couple of minutes the bottom dropped out and my dip buying plan was back in action.

 

So in this instance, what is it about that turnaround at $4.76 that made considering the buy an "idiot, newbie" move? It does look like some support right in that area, and with the price action I witnessed, it certainly did seem to turn around right there. I think that the only thing that kept me from jumping in the trade at that point was that I wasn't quick enough to catch what seemed like the bottom. What should I have seen there that should've kept me from even considering buying right there when I saw the price going back up? It is easy to look back at the chart NOW and see the continued panic, but second-by-second in real time, there was no indicator that I saw. 

 

With me wanting to try my hardest to catch the bottom and time my entries and exits as best I can, I think that I missed buying here simply because I wasn't fast enough. I may have even been kicking myself for not catching what seemed to be the bottom right there at $4.76. Luckily I didn't enter the trade there, and I actually caught the true bottom. Please tell me what else I should have seen in real time so that I'm not playing like an idiot newbie. What was so obvious in that moment?

 

Tim's comments in the lesson caused me to hesitate and miss entries on a couple of plays since that day. I believe that there were two trades where I hesitated buying the bottom of the dip because I didn't want to get caught in an idiot newbie situation only to see Tim alert moments later that he bought right there near where I was going to enter. 

 

The most recent hesitation was on a trade this morning (11/6) on $ALPP. I was right there ready to order at 9:33 for $0.17 but didn't pull the trigger - I didn't want to lose money entering this trade at the wrong time like an idiot newbie. Yesterday's panic(s) price drop was huge, and this one wasn't really that much after considering all the action yesterday. I stayed out of the trade due to my perceived risk only to see Tim's alert that he bought right where I considered buying. Imagine my confusion. Of course, the dip was weak and there was a bigger panic and recovery later. As the stock was playing out, though, I was VERY confused.

 

What is it with $ALPP today that made it a buy for Tim? The small little dip at 9:33 after a day of full-on panic compared to the dip on $XNET which seemed to turn around right at pre-market support with a big green candle forming. I have to be missing something.

 

I thought I was picking my dip entries pretty good until the $XNET video lesson. I feel that there is simply something I'm not seeing yet. With the way my mind works and as meticulous as I am, knowing that there is something obvious that I am missing is really messing my psyche. Couple that with a handful of bad trades two weeks ago and this week and this drives me to want to be absolutely sure that I have the feel for dip buying the way I thought I did. Confidence isn't what it was, even with my hesitation followed by Tim's alerts showing his entries right where I hesitated confirming that my entry would have been OK. I just want to understand better so that I can improve my chance of not making mistakes. I'm going to make mistakes - I just want to keep them to a minimum and understanding the little nuances help. Keep losses to a minimum by cutting losses quickly. Keep losses to a minimum by avoiding as many mistakes as possible.

 

I appreciate your help and input on this. Many, many thanks!