New Challenge Student. Just my study thoughts. Recently started trading. Not expecting anyone to read this. For "diary" purposes only.
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At some point very soon, I'll learn to FOLLOW MY OWN DOGGONE PRE-WRITTEN PLAN. At that point, I'll be able realize larger ($300-$1000) wins on my small account. In the meantime, I'll take my lumps and losses (or smaller-than-it-shoulda-been gains).
MYO-
Catalyst: top % gainer, new product launch, multi-day b/o, low float.
Concerns: 3rd green day...still got legs?
Thesis: o/n hold, LOCK IN 10-20% PROFITS AND SELL INTO P/M SPIKE, has a history of crashing near open before spiking mid-morning.
In: $19.15, 55 shares. Out: $17.95. $76 LOSS
EASILY could've been $100+ gain p/m as it ran to $21.5 but got greedy hoping for 22.98+ (20+% gain). Ended up $76 loss as it tanked at open (as predicted) and I panicked. Then after I sold, it ran up to $21.94 by mid-morning (AS PREDICTED!) smh...
DCTH-
Catalyst: top % gainer, multi-month b/o.
Concerns: NOT an earnings/contract/product/partnership winner, so very speculative.
Thesis: let it prove itself at open, enter early in low 0.10s, take 10-20% gain.
In: 0.20, 5500 shares (WAY LATE, was fuming over MYO loss)
Out: 0.248, 2500 shares, $120 profit (heart attack as it crashed to 0.14 minutes after my entry; grinded back up all day)
Holding: 3000 shares o/n only because I TRIGGERED PDT and COULD NOT EXIT! SMFH!!!!! What a dumb, dumb, dumb rookie mistake. LUCKILY it closed 0.249 a/h so I'm up $144 unrealized. The ONLY THING that helped me stay calm was I read the SEC 8-K filing ahead of time and knew their reverse split got voted down, so they appear to be pumping this above $1 to avoid delisting. Thank you Michael Goode SEC DVD! :-)
Bottom line: IF (and that's a BIG "IF") I had followed my prewritten plan, MYO would've been a $75-100 p/m gain. PLUS, I would've entered MYO on time at 0.11 for a possible $1000 gain as it ran to 0.20 in the morning (and eventually 0.30 at lunch). I'm making slow/steady progress as a trader but will make exponential progress once I learn to STICK to my pre-written plan!
#sniperlife
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