TickerTommy

Learning valuable lessons this week about promoted stocks, and holding and hoping. Breaking rule #1, cut losses quickly, but it has caused a chain of events that have helped me develop as a trader. It forced me to research the SEC filings (or lack thereof, which I should have done anyway BEFORE entering the trades). It helped me to understand that I am trying to size up too quickly (my emotions are being affected by the trades I'm in), and it is forcing me to study more on risk/reward. It is helping me to understand that there should NEVER be a "what-if" once you hit your risk level...just cut it and move on. If there's a what-if, you're position size is too large, just get out of the trade and move on to the next opportunity. With that being said, I've accepted that I made a huge mistake, and I'm along for the ride just to teach myself a lesson and further understand how twisted stock promoters are. I'm "hoping" (Tim would probably knock my head off if he were standing next to me), that $HQGE and $LTNC will retest some of the highs so I can exit near break even. I continue to watch them being promoted, and I guess I'm just waiting to find out where exactly the promotions stand, but it looks to me like it's the end game and I'm holding a losing hand (because I didn't CUT LOSSES QUICKLY).

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TickerTommy

Glad to break out of the -$ amount in my profile, thanks to a successful "buy the rumor, sell the news" options trade with the SPAC acquisition on Romeo Power: RMG / RMO. It's increasingly hard to find time to trade and study between working a full time job and then coming home and working on the new house I'm building, but I am slowly and steadily increasing my knowledge account. I am trying to be careful and stay disciplined, cutting losses quickly.

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TickerTommy

I'm very grateful for Profit.ly - it takes all the manual calculations out of figuring the statistics on all of my trades, and being able to import them directly and just write comments on them is great. It helps highlight the fact that I am not cutting losses quick enough on some trades. Just look at my current stats as of 10/10/2020- I have more winning trades than I do losing trades, an average $ gain of 36, and winning roughly 59%, but I'm still -1,126.07 on my profits. Obviously, I have some things to work on.

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timothysykes

$945 profit DSGT Long Stock

Entry comments: Partial execution on this breakout, I wanted bigger, but its spiking too fast and I don't want to chase, goal is to sell in ht e.20s today or next week

Exit comments: I had to sell into strength, I don't trust this stock so I'm taking singles all day long and stacking it up....took me several smaller blocks just to get executed as despite trading 30 million shares today its tough to execute, glad to be out for safe profits over the weekend, no stress even though this probly pops more

Received 5 Karmas
Pmulle
Pmulle Oct 09, 20 3:57 PM

finally sold $cweb after a month profited 167.00

TickerTommy
TickerTommy Oct 10, 20 11:35 AM

I should have done the same thing on $OPTT and exited when it spiked instead of trying to chase with the other 2500ish shares. I would have profited nicely on the trade if I wouldn't have chased it with the rest. Thanks for this entry comment, I didn't really notice that at first.

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TickerTommy

Finding that making a few REAL TRADES with SMALL POSITION SIZE is worth its weight in gold when trying to understand patterns and how a stock moves in real time. I highly encourage people to TRADE SMALL after learning a good amount of material. Continue studying, and do NOT break over 3 day trades or your account will be flagged (it's EASY to do). I knew that I was one trade away from breaking it, and got sucked in by the action on the stock and made the trade before I realized what I had done. Most brokers will give you a pass and unflag the account once or twice, but it sucks so don't do it. When flagged, you can't open any new positions unless you start the day with $25k in the account, and it lasts something crazy like 90 days. Learn discipline, trade small, cut losses quickly. DO NOT enter a trade unless you have a planned LOSS exit price at minimum. No matter what, cut losses at that price.

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