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It was on my watchlist. I traded while it breaks the technical point at 1.88. My target was 2.06 and my stop loss was at 1.75. It went up nicely but fell the cliff. I was not monitoring at that time. I stop my loses quickly. While I lose money, I am also training at cutting my loses, planning my trade and trading my plan. For that part, I am getting better but need to work more on that.
I was long on PURA. Starting my position on an up-trading chart after a PR (that for once Tim S. didn't see), I stayed long after multiple PR and multiple days with high volumes. I wanted the price to be higher than 0.1. Last week, almost reach 0.15 (0.1495) but the following days, in conjunction with the decrease of the Dow Jones, it fell. I put a limit order at 0.15 and it went through today (I took the profit there even if I could have been greedier). Very happy of this trade.
I was very happy on my setup. I was waiting for the price to uptrend and to see some volume. I saw the volume going high, put my order. The problem of not having STT on my desktop at work is that I didn't see the wall of sellers at 1.3 so it took the entire day to break for few cents. Also, I realized that I have a hard time to cut my losses quickly. I need to work on that.
I was just beginning really trading. I did a first mistake that was to invest in pre-market (it was spiking and it was a new high) but had a great catalyst as they became the backup company for Epipen. The second mistake I made is that I didn't cut losses quickly. Short position I hold and was thinking the catalyst will play. It didn't. The only thing that played was the news announcing they were at Outperform. I sold at that moment. Not great
I traded OGEN when I thought they were higher than $1 (technical Breakout). Unfortunately, it dropped the next day (meaning it was a fake out), for no real reason. I hold it because the pattern of this Stock is reaching a top, dropping the following days for consolidating at a lower price (as TimFundamentals Part Deux said). A new catalyst came yesterday and the stock rockets. I hold it for 2 days, put a limit order at $2.55 as I was at an international conference. Happy of this play.
I didn't respect my plan, which was to trade only if it was breaking $3. I traded during pre-market, crashed mid-day. I didn't cut losses quickly. I just saw a sort of head and shoulder pattern except that the shoulder was inverted and I bet (yea...) that it would go higher. Sold at $2.72. I minimized the losses by being lucky... very bad trading
OMG... I thought it was going to bounce... so so wrong. It tried to cut losses quickly but it dropped fast. What I realized about all of my recent trades is that I am buying while it is down-trading... I need to understand why and how and focusing on more easy play such as morning panic and new spiker...
Never attempt to copy or mirror the trades discussed on this website or in alerts. Attempting to do so may result in substantial financial losses. Alerts are not provided in real-time. For that reason, it is highly unlikely you will be able to buy the stocks at the same entry price, or sell the stocks at the same exit price, to achieve the same or similar profits obtained.