This was me over trading because I was trying to cover a loss on a trade I entered earlier this morning. I am now stuck in my original trade because I am out of day-trades for the week (due to the PDT rule). I have got to remember to get out of a trade as soon as it is not going my way. All of my small gains over the last week have been wiped out and I am now down YTD on my account... Tomorrow is a new day.
I saw it was up in pre-market hours and then it jumped again right at the open. I was scared for a few minutes when it dropped almost 50 cents, but I was confident that it was still going to be a break-out. I don't know how I got out at the top like I did but that was really lucky.
another amazing momentum trade that I could have held onto for more but I don't want to get greedy. I increased my account by 5% which is exactly what I was trying to do. I saw it almost double in pre-market trading and then jump again right at the open. Feels good to be back trading again! First week in and my account is up over 7% which would probably be 10% if I had played the trade yesterday better.
I could have increased my account by 2% or better on this trade if I had only taken the money and ran. I got greedy and held for to long and ended up losing money. Literally five minutes after I entered the trade I was up over $40... smh but at least I have learned a valuable lesson: TAKE THE MONEY AND RUN WHILE YOU HAVE THE CHANCE!