I highly recommend watching @Investorslive Textboook Trading to beginners and intermediates as well to educate yourself about momentum trading
And the obvious disclaimer - I am not a trading/investment adviser so please be smart and consult a certified financial adviser before making any investment decisions
Summary of Trading:
Amateur hour trading today - completely messed up $ICLD $VLTC, lucky to get out in one piece;
$ICLD I was so used to it fading that I shorted on a flat line instead of waiting for a spike; $VLTC I didn't react quickly enough covering on the dips and shorting on the pops;
Late in the day came $GENE and graciously saved my day, closed green, juuuuuuuuuustt.
Trades:
$VLTC in pre with 8.40 risk; if it opens strong i'll cover and wait for pop to 9, otherwise see if it fades and will add on pops
$ICLD tends to fade so took some in pre with view to add if it spikes out the gate; it squeezed me badly, covered most when it broke nhod; shorted later and made a little back, then longed for a little bit more
$OGXI had some o/n, added after the open; didnt take a profit when i had it, wanted more flush, instead settled for b/e
$GENE on vol - this one saved my day thankfully
$VLTC for $10 break and eod squeeze, potentially re-test highs; sold when it couldnt hold .20s
tough day out there dude! With the GENE why didnt you wait a bit on the 3rd buy - you normally wait for the VWAP bounce? Also on the VLTC - said your risk was .40's why didn't you close out? just trying to get into your mindset!
ReplyDeletewith GENE i already had realised gains so it was ok for me to be more aggressive. on VLTC i was just an idiot and undisciplined
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