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Made a trade after taking a long break but extremely bad trading practice on my part, turned a profitable trade into a loss, I was up almost 15% ended up with a loss of over 10%..few errors in judgement and few software issues, I still need to understand the nitty gritty of the IB platform, more on the trade on my profitly community wall.
I bought this stock on its breakout of 1.30 assuming it will probably hit $3 if not more, thinking it may do an SKLN from the previous day, there was a lot of long term resistance near the low 1.90 keeping that in mind I had kept my order ready to exit at 1.88, the stock never reached 1.90, it started to fade immediately after hitting 1.79 i tried to give it some time thinking it will may spike but it didn't happen, it was Tims alert that helped me get out of the trade.
Made a huge mistake Chasing the stock after it was Halted, didnt wait for it to consolidate or dip, was under the impression like other low float runners ( $KONE , $SPU, $TOPS), this would spike as well after the halt to the 6s, I wasn't looking to make 2-3 $ as share may just 40 to 50 cents a share but timing was awful and the worse part was I panicked ans sold it at the first drop,Greed is not Good with penny stocks, 10% loss is a huge loss 4 me, will look to dip buy in future and not chase.
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