tough to look back on but lessons here 1. Have a plan, trust the setup 2. respect your risk 3. dotn get so caught up in intraday action, big picture first
Recent Listed multiday b/o, hot sector $fcel $bldp been running. Fuel sector. They seemed strong with nice gaps this morning. Got too caught up in intraday, 1min chart, and emotionally sold when price action on sector leaders looked weak even tho big picture was still very much so in tact. $plug was the one that hadnt ran a bunch yet. took a stab with 9cent risk.
Thank you for this lesson. So much to learn and understand. Choosing is the toughest. Thank you so much.
cool! its a never-ending process. in terms of choosing, I wouldnt say its that. id say its narrowing down your focus to a select few setups based on your track record of past trades. identifying key variables and indicators that leader to increasing your odds and edge of a profitable trade.
when it came to $plug, $bldp $fcel were already spiking in the morning. and $plug was lagging behind. daily charts (the big picture) looked very similar and same sector and industry. these names have also moved in sympathy in the past. that was the process to me "choosing" $plug. just took in multiple indicators that stacked the odds of the trade working in my favour. unfortunately didnt trust my thesis but end of day chart proved my thinking was dead on
Thank you, your information is very valuable and helpful. Have a great weekend.