Hello, I wanted to lend a hand on @chadw trade for $AMDA, I think you might be mistaken on what is an ABCD pattern. I only trade ABCD patterns and have excellent results I don't know if its ok for me to offer this to you but I have an excel sheet for sell it's only $50.00 if you are interested in it let me know. Let's break down the Chart. The ABCD pattern that you saw on the 1min chart was not an ABCD pattern; it was bad choppy charting. The ABCD pattern did not form on $AMDA until about 20min before market close it finished strong all the way up to $4.44 before coming back to $3.88 at 6:00 Pm Colorado time. Look at the pattern in the 5min chart there is no ABCD pattern. I supplied a perfect ABCD pattern that I traded while ago.
I don't know if you are using TD Ameritrade Think or Swim if you are using the on-demand feature to look at ticker $HMNY on 4/16/2018 there are 3 ABCD patterns on that chart. Remember to use more than just the one minute chart to see the ABCD pattern if you can confirm the pattern on more than one time from it give more to the patter and have a greater chance of moving. Also, let's say that they ABCD patter that was an ABCD pattern you bought to wait soon for the trade to run into you order and prove itself before you get into it. Attached is a chart for ECYT back on 2/28/2018, the level that the stock must get over is $5.60. I would place my STOP order in at $5.60 or $5.61 and wait for the trade to come to me if it never reached that price I am not in the trade and I don't lose money or day trade. Also, watch the time of day I started to track in the excels sheet the time of when the ABCD pattern form and most of the time it's about 8am-8: 45 AM Colorado time of the last few minutes of the trading day I mean like the last 10min or so before market close. I bought $AMDA about 10min before market close at $2.81.
I hope this helps.
First trade since studying, bought 50 shares of $CNET premarket with a plan to hold til market open at 4.13 and out at 3.92. had a mental stop loss at 4 and stuck to my plan to cut losses quickly. $CNET dropped at market open so im happy i stuck with my plan.
Bought $HMNY as it did a late morning spike at 4.14 and out at 4.29. than from 4.43 out at 4.51 from 4.60. broke even for my first trade but very happy with how it panned out and also sticking with my plan. GREAT FIRST TRADE!
I'm a new student on this profit.ly and listened to one of your videos regarding brokers & y not to Robinhood happened. yesterday $HMNY public offering screwed my positions and I could sell off AH to cut my losses early. eventually ended with $263 loss.
paying commission on Schwab is much better than this nightmare.
Thanks for the chat room tips. I