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Bought after it bounced and held the 7.30 level strong 5 times today. As Mciesk13 pointed out, the target number should have been the previous day high of 7.16 as the level to hold. Entered with target afternoon squeeze back to the day highs of $7.90 - i think it can still squeeze, but i have to keep true to my stop losses.
Amazing to know that these trades are coming with Shorts closing out before lunch and also some for the weekend. The momentum just stakes off and I didnt want to get greedy putting in a limit of 25.49 when in reality I could have riden the wave all the way to 25.99. Left $400 profit on the table. So happy with today. Learning and I will get better. Still an amazing day.
I should have really waited on my entry for $HBI. I know when there is a huge gap down there tend to be shorts covering for a spike up. Then once I see the momentum slow I can short. Shorting on a loser tends to be a positive on the day. There was 1.70 of movement from 26.80 to 25.10. I still made $ but I need to have better entries. Still learning
Actually with broker commissions I lost $0.03 but this is my first live trade ever and I totally siked myself out. Entry could've been better but it was right at resistance and right before it blew through resistance back to test day highs. I saw that it did not break highs and trend was changing. If I had listen to myself then it would have been a +$70-90 day. Lessons: Take profits at any sign of turn around If its holding key support, be patient. You might get a better exit
I added to my winning FB short and happy I did to capitalize on close to another $160. Learning to add to winners not losers. Although I do avg in on losers still. Need to just be more patient on my entries.
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