(Upward Halt Momo Set up) - I love this set up when it happens. China stock started spiking with huge volume and got halted on the way up. It usually ALWAYS opens strong and makes a quick fast move before it tanks. I got in when it broke the whole dollar of 2 but didn’t have the balls to ride out the momo as it seems like it was having resistance so i exited then it took off without me.
(Bull Flag set up) Traded this stock twice today, seems like i don’t do well on my second trades of the same stock as i make profit and give it back. Don’t take a second trade UNLESS it is a 100% perfect set up! Still having a problem of holding it for longer period and missing most of the move. The reason this is happening is because i don’t want to drop below 25k so I’m kinda paranoid and exit as soon as I’m in red and when it doesn’t even hit my risk level.It will come with experience in time
(5 min Bull flag set up) Traded this stock twice. Both time, PERFECT ENTRIES with solid set ups but the exits is what my problem is, get scared out too easily. My mentality is this move should go STRAIGHT up with move wiggle at all which is wrong, I’m working on changing this and sticking to a solid risk level and not getting out at random slight pullbacks and weaknesses which i did here and completely messed up the trade then it made a huge move! Im working on it!
had a strong run premarket on some good news and consolidated at the open and till the power hour which i expected, it slightly broke out by 10 cents then pullback but didn’t collapse still chilling near the HOD, it was setting up for a bullflag but so as soon as it broke the high of the previous candle for anticipation of the break of whole number. It did but didn’t have enough momentum to push it up so i got out. Mistakes: getting out way too quickly before giving it room to push!
Mistakes: Really bad anticipated not reactive trade. ESEA is also a shipper stock since the whole sector moves in sympathy as TOPS started squeezing so did ESEA with HUGE volume on a one minute candle, i knew to NEVER buy this overextended candle but in the moment you don’t have a lot of time to think it through so the FOMO got me on this one… as i thought it could keep squeezing… WAIT FOR A PULLBACK, you dumbass! Don’t buy a huge overextended candle with no conformation!
Mistakes: buying over extended HOD breakout, WATCH the moving averages, if it diverges too much from the moving averages and going straight parabolic, stay away from it until it at least pulls back and proves the strength with a follow up volume and break over a previous high. I know it’s tough to pay attention to these details in the moment but do! Good job on cutting losses quickly though! Seems like im taking one step forward 3 steps back but as long as i keep moving forward IM GOOD! i