$CYCC coiling a bit as shorts realize they're over-aggressive and it can still spike tomorrow
Entry comments: Trying a late day dip buy on this big winner thats far off its highs and now near support, shorts should cover a bit into the close, goal is to make 5-10% on he bounce, speculative so small position
Exit comments: Zzzzzz, weak bounce, I wanted more, it doesn't help that the overall market is falling off a cliff after the fed meeting ended so I'll just be safe an exit with small gains, story of my day...tomorrow is a new day
Thanks Tim!
$CYCC now spiking big, uhhhh so many plays!
Bought in on Tims alert about rumours $HIMX @10.65 will supply iphone sensors. Didn't breakout. I got out @ 10.39. Small position 100 shares. $INO had good news this morning about peer reviews and had a huge spike pre market then dipped. I felt pretty good about the rise of the dip bought 100 shares at $6.22 with the intent to hold over night if finished strong. 3:30 price dipped lower support. Got out at $6.30. I feel very confident about this trade. I made the decision myself not on alerts or wims. :) $CYCC has increasing trend all day and will finish the day really strong. I want to go in but I am going to hold my self back. Still too new to make decisions like this. But i will be following it tomorrow
Trading Diary: April as been so slow, trying to just sit back and learn. This is the first time I've been in a trade for a whole week, YAWN, waiting for gravity to come back. $CYCC
Morning panic to 6.03 is common last few day, may get out if it doesn't go lower than that.
your killing me! damnit man get out! just do it! lol its at 6.00 at 7:25 pm est today.
I have a stop order in for 6ish so it "should" get me out in the morning, we'll see.
Focus on multi day runners for first red day risking HOD, Dux will short second red day after a multi day runs. Focus on 1 to 2 setups and don’t skip on material, no shortcuts to success. Long idea: low float multi week/month breakouts. Focus on improving and not the money. Stick to a time of day to trade and trade during your time of day. Thanks for the education Dux!!!
Short larger market caps with higher floats are much better for shorting into morning spikes (though shorting morning spikes shouldn't be first short strategy for a newer trader) as larger share structure companies come down much faster and harder. Think risk management first and short lower high using HOD as risk.
Shorts into parabolic moves are risky and should be quick trades, if stock is consolidating at or near highs for most of the day exit your short as move has become unpredictable and more favorable for long b/o always want to be the first short to cover to get best price. Don't short low floats, they're not worth it. Never add to a loser, and violate your risk. consistency can only come if you last long enough to reach consistency.
Respect and accept your loss and cut the trade when your risk is hit. Thanks for your time and education Dux!!!
So if I make mistakes, I'm all about learning from them, I technically took my first loss on a week this week, due to a stupid trade early on with $SHIP and I immediately realized that losses like this were turning into a trend. I was telling myself it was part of my education, and it was needed to learn how to get better at going long. I'm glad I woke up because the losses were starting to add up. The attached picture is going on my board and will be an integral part of how I approach going long in the future. Fortunately I'm up $300 thanks to the China Sector going bonkers today and wins on HTGM and DFFN which got close to me breaking even but I'm still holding short on $CCCL and on $CYCC 's rediculous rise Thursday.
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