GOLD TURN INTO STONE
($32) LOSS - $AMPE - LONG overnight. Position size 200
Entry: @2.29 Bought at the close, speculating to gap up next day with the Positive product research result and a strong chart -- breakout.
Exit: There was no gap up, but a short spike after a short morning panic. I did not panic upon opening, i see the price action will go back up and spike. I it did spike, i was initially targeting my exit price at 2.36 a break even because of the morning dip panic. When the pice started to go up saw the price can go up easily I move my price target to 2.40 then to 2.45. When the price went up to 2.40 i saw big sellers on that price. I went back to change my price but doubted. I did not pull the trigger right away hoping that it can break the big sellers. After 4 minutes, it went back up to 2.38-2.39 but the big sellers at 2.40 are still there. So, i decided to pull the trigger -- but the it drop down fast below my entry price -- 2.29. I sold it when it bounce back at a loss.
I could have been a win.
I did not; 1. take the meat of the move, & (2) I played the strategy of hoping and being greedy. I was there waiting like a a sniper, i saw the price action but did not pull the trigger. Another great experience, and this time my emotions is way controlled and I did not shake while watching the price action. I can see the level 2 and chart very clear -- but need to take action next time.