Ticker:$HMNY
Enter: $3.51 (10shares) @ 7:25 PT 2/23/17
Exit: $3.40 (10shares) @ 8:04 PT 2/23/17
LOSS/GAIN: $-1.10
This was a bad trade all together. I really got in this trade because i wanted to trade something. Even though it was not a horrible pick, it was up trending, it had ok news with ok good volume, & and i was on the right track but i was not in the right mind frame. I entered the stock at 3.51 because i though that was the bottom, I was not even too clear on my game plan, i just knew that i wanted a 30% increase but base on the price action i had a feeling it was not going to muster up a 30% run.
The support at $3.51 did not hold, and the stock went down to $3.38, and i was panicing to cut my loses but it quickly made bounce back to $3.50 and even $2.53 (I should of taking my chances there).
I decided to hold, really base on the PR stating that this company just created a hate crime APP, and i thought due to all the politics stuff that has been going on (hint hint :Donald Trump), people might see this as a value. Pretty much i was in the mind state of "finding it first.", but we all know the only thing that matters is price action, and i was ignoring what the price action was doing, hoping that it will ramp up(Hoping is not a strategy).
As i was getting ready for work, (yes i was planning on holding this stock through wrk) I notice that the stock went down from $3.53 to $3.45, and right there i should of been smart enough to cut loses quickly, but i instead i mustered up all the reasons that i was right, so i kept holding the stock and told my self if it drops below 3.40, then i will exit.
As I was driving out the garage to head to wrk, i just had to look where i was at in the stock (luckily Robinhood APP is very mobile friedly) and notice that the stock was at $3.40, so i immdietly got out.
This time i did use Limit order Vs Market order to enter an exit my trade :), soo im getting some where, & i cut my loses quickley.
nice very - reminds me of the limit vs market...but i made a rookie mistake when i put in the limit price and the ticker price went down and BOOM over paid today for NAK...holding it and waiting for spike..
Still love your patience trying things out and going slowly. Keep it going!
@R1tch4rd I really appreciate it. I really want to use the Robinhood accnt to learn how to control my emotions when real money is on the line
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