$HQGE - ($532 profit)

FGD OTC pattern.

Went long 40K in the afternoon when the price action was looking to form an ABCD into PH. Made sure to stay patient and not try to anticipate the breakout at $.009 without having enough confirmation. Was watching when $.009 kept testing but still didn't have the strength to b/o. I got even more interested when the stock managed to hold up on the dip to $.008. It set a higher low and had a strong bounce. I bought on that first bounce back up when I noticed lots of dip buyers were going to hold this up. Was a slow mover into the close which helped to not exhaust this for tomorrow. Got a nice breakout into the close with strong volume which is why I took 1/4 size off just to lock in profits and help keep me patient. I sold another 10K at the open just in case we got a pull back to previous day's highs and I would feel comfortable holding until we got the R/G. Instead, there was strength right at the open and sent it more than doubling. Because I sold into chunks along the way up, I was very patient and not emotional when selling the other 20K of my shares. I had perfect executions selling the rest over $.0297, majority at $.0299 avg. This was a great profit but even happier with the execution on the trade. I stuck to my plan and by doing that it allowed me to maximize my profits.

 

CLWD - ($54 profit)

OTC Multi Day Breakout.

I like this pattern where stocks have a breakout inside another one. Similar chart pattern to $ABML and $TSNP. The stock breakouts out over a previous pop high after it holds a new consolidation point then turns into this self fulfilling prophecy of retesting the previous high. I feel like I played this well on my entries; buying it after it dipped under the b/o level and reclaiming going into the afternoon. I took smaller size on my first entry because I wanted the stock to prove it could hold this level so I didn't get shaken out. When it started to breakout into the afternoon, I was looking to add more. I did miss some good entries on dips which is why I only add half my original size at $.15.

My exits on this play could have been much better. I remember on this day we had the OTC stocks all panicking and I was trying to watch for panic dip buys. At the time, I was unaware that all the OTC stocks were having weakness so I was slowly selling this off and not watching as closely. Sold majority into the gap and spike but had to cut the rest for near b/e. Good lesson to focus on what I already have and make that a priority before trying to play other stocks, especially since I am not trading on my ideal setup.

 

$SIRC - (Breakeven)

OTC Panic Dip Buy.

Wish I played this better but this is why reviewing trades is important. I was waiting for this to panic down to the support level of $1.75 for days and finally did but I was unable to watch it with my full attention. This is the trade that took part of my attention away from selling $CLWD so I was not focused on either one. I did notice the key level of $1.75 being tested and was ready to buy but saw the volume was fairly low and was moving slow. I didn't feel comfortable buying at $1.60s but when the stock bounced back up and was holding strong near the $1.75 support level, thats when I got in on a pull back risking the morning support of $1.65. The stock did good bouncing after I bought but it was met with very big sellers and didn't have big volume to hold it up. When the stock had a quick pull back to my entry, I felt like it would crack and drop really quick like other OTCs were. It managed to hold up and is a good example of how some of these slower bounces need some patience through the day. 

 

$MMNFF - ($16 loss)

OTC Panic Dip Buy.

Another panic play where I wasn't able to watch as closely as I should be. This type of pattern I need to have L2 and tape up but didn't. I tried to buy this after multiple dips held up and it looked ready to break past $.75. Was holding higher lows and retested $.75 but failed twice. Should have gotten out quicker cuz $.75 is a key level of resistance and also heavy pressure from the VWAP test right above it.

 

Goals for next week:

1. Continue watching the big % gainers on the day and don't let them off radar. These have been running further than expected each time.

2. Trust the price action i'm seeing. Lots of trades pass by me cuz I don't pull the trigger. Even if its small size just to enter the trade then add more later, like $CLWD, will help me to take advantage of these plays.

3. If trading panics, have the proper setup or just avoid. These trades are about timing and if I am unable to use my computer due to work, then its best to just watch for learn.

 

I did another good job cutting my losses this week and minimized any losses I would have had. One thing that I might need to focus on is tracking when I cut my trades before the stop loss is hit and if I get out too early. On trades like $SIRC I felt the price action feeling weak so I got out but it never dropped below my entry and would have turned into a win. This has happened a few times but has also saved my profits multiple times.