GOPH, or Gopher Protocol, Inc., was a hot stock on 1/10/2018, trading several million in volume and up by more than 74% on the day. This company specializes in Artificial Intelligence applied to mobile applications.
1. I did not do a good job of defining my entry and exit targets. Made same mistake as last time. I think that trading paper is good for the mechanical trade execution, but the risk is that it can train you to be a gunslinger and take unnecessary risks when it comes time to spend real money
2. I think the main thing I learned from this trade was the importance of a good entry. There was huge upside potential on this trade and I got in too late to see most of it. If I had bought in at market open ($2.55/sh) a perfect exit at the high of day ($3.15) would have yielded a potential profit of $2400.
3. One thing that I see that is consistently working is the scan for good stocks. GOPH was the only pick on my watch list that was trending upward. Up by at least 32%.
4. A great strategy would have been to buy this stock yesterday afternoon and hold overnight. $3,280 in upside profit potential.
This little Gopher got away from me! Ugh