Afternoon passed HOD, wanted to hold overnight but was afraid this stock was over extended. Bought in at "Power Hour" hoping the shorts would get squeezed and wanted to hold overnight. Decided that this stock had too many factors weighing against it to hold overnight. LESSON: If your 50/50 about a stock, best not to play at all and wait for a stock you are prepared for, that suit the conditions.
Sympathy play with CNET, CNET got bad news, affected CNIT. Held on because I knew news would be the only reason this stock would spike. Recieved good news last week, and nothing happened. Continue to hold and wait for chance to minimise losses. Blockchain news arrived early, Premorning spike, But I was stuck at work. Had to download Trading account at work because I knew pre morning spike would not last. Exited as fast as I could premarket. Lesson: NOT A WIN, just dumb luck! Get out fast!
Just Good news comes, doesn't necessarily mean its a winner! Early morning Gap up. Low Float, But could not make it, Lacked Volatility. Started active, but died out in the end. Lesson: Catalyst + Conditions + without volatility may not always produce the results that you, you win some and you lose some. Best the get out and move on to the next opportunity rather than wishing it to change for you.
1 of 3 of the worst trades to begin my career as a trader! Bad Habits! FOMO and not cutting losses! LESSON: PLAN, PLAN, PLAN! FOMO is real and needs to be avoided by CUTTING LOSSES QUICKLY! Have a sound justified entry, and EXIT, if the stock is not acting accordingly, GET THE FUCK OUT! If you miss it, don't worry, other opportunities will appear! Pay attention to stock, type of stock, sector plays, earnings winners, contract winners, pumps and dumps, and attack accordingly. FIND YOUR NICHE!
Just Because it’s a stock in a HOT SECTOR, doesn’t mean it’s a HOT STOCK! Dumbass! ENTRY: Scanner showed news of blockchain play with SING Stock. Without thinking, FOMO, jumped in quickly without price action or research looking for a $0.10 cent gain. Looking for a win instead of a winning play! LESSON: Was able to cut losses appropriately. Don’t jump into trade. Opportunities will come again, just wait for them and just go for the meat of the move.
EMOTIONAL TRADE! Anger of losses and lack of understanding led to purchasing a TOXIC STOCK! Then Saw TIM GRITTANI's youtube video on his $122k shorting TOPS reason! LOL LESSON: EMOTION does not belong in TRADING! CUT LOSSES IMMEDIATELY! Sit on cash and wait for the play to come to you instead of you searching for it. RESEARCH the company and news before jumping even if you know the company is shit!. Wait for a CATALYST, PRICE REACTION! EXIT IMMEDIATELY IF THINGS ARE NOT GOING YOUR WAY!
NOT a great play! Many mistakes made! Came out green but shouldve left earlier. Held for too long! LESSON: Find the CATALYST! Watch the price react to the catalyst. DON’T FOMO and wait for opportunities to come to you. Look for volatile stocks and low floats. Need to rewatch webinars, dvds, and continue learning. Take smaller positions to get accustomed to trading.
Impulse buy due to FOMO! 2nd trade and another BIG MISTAKE! Take MEAT OF THE MOVE!!! LESSON: ASSUMED! ASSUMED many things with this play. ICAHNs influence this Stock earlier this year and it jumped to $8+++, but it was a listed stock and not an OTC. End of year play as well, "TAX PURPOSES?" Could have taken $100+ by exiting early but wanted to HOMERUN win! GREED and lack of knowledge took over and decided to hold for the foreseeable future. TAKE PROFITS!