I am such a chicken, I make made 49 cents a share and all I risk was $163.80??? I had a lot more I was willing to risk but a part of me felt like I was chasing. Little did I know that this would blow the top off later in the morning....
hey you did better than me. I didnt touch the stock all day yesterday or today because the spread was always huge (15-20 cents) and that's not a great sign for volatile stocks. Also even when I saw it at 7 or 8 bucks yesterday I didnt touch it because I thought that was way overextended from the 1s in the morning. Who knew it could go to 15 today?
@tradeformula remember that pricier stocks can easily move $0.50-$1 like nothing, and a stock like this (bullish) with such move can still keep running. So do not be scared to give it some room to breath and try to look into the big picture and use 5 or 15 min charts to guide you as well :)
@TechnicalTicker@timothysykes Awesome trade man! Please, do not let your feeling of a 'good' trade depend on the way it moves after you exit. You came in with a plan, and nailed it, regardless of what the stock did after. If it would have tanked to the 6's, you would have felt great about your exit, right? Point is, you entered with a goal, and took profits which is awesome. I had the same yesterday. Entered GEVO at 0.50, sold at 0.64. My biggest win ever. I really don't care that the stock tou
@Doncematic I agree with you, having a plan and executing accordingly is and should be the way to trade. Sure, more money is great but it does not mean you are a better trader. In the beginning, if you can prepare and follow your plan, then you are on your way to become a great trader. I say this because you are learning rule #1 - Cut your losses quickly, and by doing this you will also be learning a skill that comes with time and experience - no emotion.
hey you did better than me. I didnt touch the stock all day yesterday or today because the spread was always huge (15-20 cents) and that's not a great sign for volatile stocks. Also even when I saw it at 7 or 8 bucks yesterday I didnt touch it because I thought that was way overextended from the 1s in the morning. Who knew it could go to 15 today?
@tradeformula remember that pricier stocks can easily move $0.50-$1 like nothing, and a stock like this (bullish) with such move can still keep running. So do not be scared to give it some room to breath and try to look into the big picture and use 5 or 15 min charts to guide you as well :)
@TechnicalTicker @timothysykes Awesome trade man! Please, do not let your feeling of a 'good' trade depend on the way it moves after you exit. You came in with a plan, and nailed it, regardless of what the stock did after. If it would have tanked to the 6's, you would have felt great about your exit, right? Point is, you entered with a goal, and took profits which is awesome. I had the same yesterday. Entered GEVO at 0.50, sold at 0.64. My biggest win ever. I really don't care that the stock tou
@Doncematic I agree with you, having a plan and executing accordingly is and should be the way to trade. Sure, more money is great but it does not mean you are a better trader. In the beginning, if you can prepare and follow your plan, then you are on your way to become a great trader. I say this because you are learning rule #1 - Cut your losses quickly, and by doing this you will also be learning a skill that comes with time and experience - no emotion.
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