Saw this in chat as someone said was pumped or PR release. Chart showed it could spike quick so planned on a quick trade. Bought on HOD break couldve got a better entry at .71-.72. Sold too quick as it did hit into .80s. I knew couldve waited on sell too just wanted the winning trade.
Was watching this most the day. Bought on HOD break but got shook out for some reason. Dipped a few cents but realistically I couldve risked into the 4.60s. Prob was a mental block as I had made some bad trades and took some L's past two days. Ended up running after hours and spliked into the mid 7.00s nex morning.
Entry comments: Day. Hot Sector: China Virus, News: treatment. Morning Gap/Crap B/O above VWAP & HOD. didn't materialize. Waited for Mid-day Dip/Rip B/O above VWAP, RISK: LOD 3.14, TGT: 10-12% 3.72-3.76.
Exit comments: Entered on red candle not letting it play out longer even though it hit the time of 1130. Need to wait and see if more GRN candles form if not before hand. Waiting would have showed stock not recovering & volume drying up.
A win but not exactly a textbook trade. I found PR on their site about clinical trial starting for their Covid treatment so I bought thinking the PR would drop and stock would spike but it never happened. Didn't want to hold through weekend so took 12% gain....could be worse.
Entry comments: Day. Hot Sector: China Virus, News: treatment. Morning Gap/Crap B/O above VWAP & HOD didn't materialize. Entered Mid-day Dip/Rip B/O above VWAP. RISK: LOD 2.63, TGT: 10-12% 3.14-3.20.
Exit comments: Risk breached. Lesson: entered on red candle not letting it play out longer even though it hit the time of 1130. Need to wait and see if more GRN candles form if not before hand. Plus, due to entry, risk too low. Waiting would have lowered entry and lower risk.
Entry comments: I held o/n then in pre it skyrocketed and went to new HOD. I sold short a 2nd position which broke my rules of lot size again. Lesson learned not to take first single. [eTrade#1]
Exit comments: I covered in the panic, decided to take the single for now, as over weekend, want to reduce my risk with my other positions. This was a tough play.