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Didn't cut as quickly as I should have. Need to set tighter risk levels and stop losses.
This just is not my strategy and was all over the place in hindsight this sky rocketed in pre-mkt today and but not the set-up I am comfortable with. Wasted a day-trade on it and need to be more picky as I am under the PDT. Not dissapointed with $ loss here but could have made a better choice to not enter altogether.
Satisfied with this trade, I wish I had more conviction when I initially bought Wed in AHs as I could have had a much better entry point and had a bigger win, however a win is a win and need to take them when they come.
Honestly, I set a stop loss on this stock and it triggered. I ended up selling at the highest point in the pre-mkt and it never came back to my sell price. Pretty satisfied with sticking to my game-plan on this one despite being a loss. I did fomo into this just minutes prior to close of AHs thinking we would get a spike in the morning...given my broker only allows trading at 7a EST and not 4a I need to keep this in mind moving forward.
The entry wasn't the issue, it was the risk management. Had ample time to exit with a stop loss for minimal loss and thought waiting would cause less damage. I have taken enough large losses now to understand that DOES NOT WORK. Having started trading again and downsizing account from $15k-25k range all the way down to $1500 from the begining of July. I am working on building this back over $25k. Currnetly sitting at $3664. Cutting much quicker and waiting for better entries.
Held this over the weekend and saw it spiking in AHs Friday. I thought it might gap up Monday but it didn't move. Because of that I did not want to hold on to see what would happen. Still on my watchlist but I got out for small gains.
Did not go my way, cut losses but need to cut them a little sooner. Stuck to my plan so cant complain
Swing trade overnight. Sold into strength. Could have held a few shares to sell in the .19s but happy with the trajectory I am on. Need to keep the consistency and my wins higher than my losses.
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