Today I dip bought 300 shares of $SGMS after it spiked from 8.87 to 10.39. I bought at 10.01 above the multi-month/multi-year support at 10.00 on the 3 min chart. There was news but it sounded fluffy "Scientific Games sees notable strength after announcing the company will consider potential JVs, acquisitions, IPO, and other growth options." So this trade was played purely on price action. I was hoping for a retest of the morning high of 10.39 but sold 6 mins later when it looked like it couldn't break 10.15 which was also my sale price. My thesis was right though because 10 mins later it went up to 10.74 so I left 59c/share or $177 on the table if I held till the high.
The second trade I did today was $CGNT. It held its gain really well in the afternoon so I bought on the dip after it tested resistance/the morning high at 1.85. I bought 500 shares @ 1.82 and sold at 1.878. Small gain but my entry was good. It got up to 1.99 so again I sold too early :)
So last week my problem was hesitating on plays which I've fixed now. This week I have a patience problem when I'm in a trade so I'm going to try and work on that starting tomorrow. My entries have been perfect lately so now I have to exit better. I've made 7 consecutive green trades so far so I'm really happy and it's a result of good timing of entries and waiting for the trade to come to you. Never knew how important it was before but it's critical so you have good risk/reward and therefore have the odds on your side. :)
Posted Sep 07, 16 3:54 PMbyPandabear
Received 4 Karmas
Excelent Thank you!
@kmilo327 You're welcome!
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