Oooof, 2 more losing trades, one absolutely horrific, the other had potential but didn't pan out.
$TEUM had a tremendous spike yesterday on some news, and was halted. I waited for it to settle down a little after it came back, volume was good, float was good, thought it would continue running and got in around 1.25ish thinking it could spike some more and then hold onto some of the gains for a morning sell. Volume was dead. dead dead dead after that initial million plus volume spike. and it fell. and fell and fell. I was still within my risk, but as I was stuck in this trade overnight (no more day trades.. When will I learn???), I could do nothing but watch as it hit my planned out. Before close I added to my position to try to average down (dumb move #2). Pre-market it dropped to close to $1. Anyway, it perked up a tiny bit to around 1.08? 1.09? right as the market opened and.. You know what? TD Ameritrade.. you have the shittiest trade interface I've ever seen and I've only been doing this a month. Etrade's Trade page is super simple and effective. I missed my exit trying to enter the trade on TD's site and ended up losing another 3-4 cents/share trying to get out of the damned trade.
Lesson (again): Don't get into stupid trades, especially stupid trades you can't get out of. And for the love of $DIETY, don't double down on dumb.
This morning, $NEOT was on a nice news gainer trajectory. Perfect opportunity for a quick buy. I followed my rule: on a morning spiker, wait until it pulls back, consolidates, then get in on the 2nd green tick. I got in around 1.06 with risk of $1 (6-7 cents, some fraction) and goal of 1.25-30, about 4:1. It couldn't break past 1.12, huge sellers dumping in L2, price faltered, and when it broke $1, I got out exactly on plan. Small loss compounded by dumb 500 share gamble vs my normal 100-200, but following the plan is the name of the game right now. Got my solid entry, showed patience, got out when my plan said to. D for results, B for execution (barring that share gamble).
I have one DT left until thursday.
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