Watched stock all morning finally bought at very top and got crushed. bet way to big and did not want to cut losses because i would have to wait three days to trade again. was unfamiliar with january spikers and thought it had a chance to come back up. Very stupid trade and many lessons learned.
This trade really made me see that if a stock is not doing what you expected get out. The price stayed around the price I bought it at and was not breaking out, since I was not really loosing anything I kept my position but then when the stock started to tank I could not sell at my risk of .20
Not following rules I bought this stock not on earnings or contract news I just liked the chart and it was a percent gainer on the day. My risk/reward was about a 2 which was not high enough to go after this one. Dip bought @1.25 w/ plan of selling @1.5 and cutting losses @1.18 , but it fell like a rock and I could not get out until .86! Biggest loss yet and I will not soon forget this one.