Ok I have been trading but not journaling properly so I am going to get disciplined doing this. I am trading with 4 blown discs in my neck, working full time managing a fine jewelry store that I am the manager of and this is our Super Bowl season. Merry Christmas!!! SO here we go. I am not going to upload these paper trades but I will keep track and hold myself accountable and please hold me accountable as well. I have been using a system and because I haven't been tracking it I don't know when it works and when it doesn't. Here is my system. I study and set alerts to alert me when a stock is breaking out over multi month or yearly highs. I confirm news,,,, normally earnings winners that I hunt. Or huge price action and volatile stocks, If good news, I buy long and set a trailing stop at 4.4%. I will start tracking my wins and losses. If this doesn't work I am going to set my stop at the actual level. I can't pay complete attention to the trade so I have to be able to walk away and be able to cut my loss quickly. Rule number one right? SO I HAVE TO SUBMIT TO THE IDEA OF TAKING MANY SMALL LOSSES.
I was able to get to look at the market around 3:30 today, I was busy today, I saw this running and was at a $4.60, which looked like a break out level, lucky me. I looked at the news briefly, and the price action, and bought with the plan to hold over night and sell into
a morning spike hopefully.
Very similar set up today with $DPW, but I saw it at $2.98 and new that was a great dip opportunity. Sucker moved so fast I didn't get in until $3.09. Plan is to hold this a little longer considering it is a BTC play and BTC will open on the CME on the 18th of this month..... As long as volume and price action holds up and I will take profits along the way.
Tomorrow I will watch what happens and see if there are any good overnight play patterns to watch. Then I will make my moves. Staying with the BTC sector.