Great trade to see what patience looks like on a morning spike from a former runner. Typically you want to play stocks around 9:45AM EST. Anything before that is automation and alogo trading from the previous day. Extremely volatile and risky imo. If you start to pay attn. stocks normally give a clear direction around the time mentioned and make it more safe to trade them. Didn't get the exact entry I wanted due to distraction but was able to enter near a clear support zone on a former runner. More importantly I kept size within reason to keep the emotion out of the trade. Sum this all up with two word RISK MANAGEMENT. Hope this helps!
Posted Apr 13, 21 10:38 AMbyArtOfWar
Categories
Price Action: Breakouts, Price Action: Consolidation
Tickers
LKNCY
+
Thank you Ellis!
Great lesson
Thanks Ellis, great lesson on patience for morning spikers.
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