-$25 Loss
EGANLong Stock
papajohn

This was a pattern I have repeatedly told myself to stop playing. NASDAQ multi day breakout. These are too choppy for me and don't run long enough. They are most likely best played as a day trade, but until I get my accounts consolidated so I am over PDT I have to continue focusing on swing trades. I was in a few trades and didn't give this one enough time the next day when it wasn't spiking right at the open. I got out for a small loss only to see it continue the breakout without me.

5
21

DatePrice
Entry2/13/20186.75
Exit2/14/20186.70
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leiting
leitingFeb 17, 18 8:31 AM

aren't multiday breakouts your bread and butter setup man?

papajohn
papajohnFeb 17, 18 9:07 AM

@leiting OTC breakouts are. I’ve made about $32k playing those. I’ve played almost as many NASDAQ multi day breakouts and have only made about $1,700 with them.

leiting
leitingFeb 17, 18 10:11 PM

@papajohn Wow man that's eye opening, is that because they are too choppy or is it because they gap down a lot more the next day? I find they are choppy as hell, I'm currently in NVAX over the weekend and I got in on break of 2.32 in the morning. Watched it the entire day and its like 3c above the b/o level lol.

papajohn
papajohnFeb 17, 18 10:59 PM

@leiting it is both of those. They are way more choppy, where OTCs have nice trends. And OTCs are much more likely to gap up and spike when they have a strong close. NASDAQs can often have a strong close, then open the next day with a washout.

leiting
leitingFeb 18, 18 6:30 AM

@papajohn yeah you are so right i've noticed this alot, usually you get a lot of profit taking or it gets attacked by shorts in pre market or right at the open on the Nasdaqs..Thanks for the great advice on the OTC's. Gonna start tracking these more. We are in such a crazy market these days!

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