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One of my biggest dollar losses of my trading career. I should have traded this stock at the open but waited for support around the .26 mark, believing it was going to gap up from there... but as soon as I entered the position, the stock immediately crashed and I sold as quickly as I thought I could... one positive is that I sold when I did unlike in the past where I would wait and hold and hope and lose more. This could have been a way bigger dollar loss, so there's that...
I entered this trade at what I thought was a great support level. When I tried to sell at my risk level of .32, I received a warning message from Etrade stating that the selling of the position could be considered a good fair violation... I then called etrade and the representative said because I get 3 violation "chances" in a 12 month period, I should be good as he didn't see me have any of late. I changed strategy to hold for a gap up, but it never happened and sold for a BAD BAD Loss!!!
Bad trade. Luckily I only had one share.
Bad trade. Luckily I only had one share.
I entered this trade immediately upon the market open, and held it even through a legitimate low in the .08s. But I took the risk to wait and see how it traded in the 11 AM hour, in light of past trades gaping up in that hour after a gap down (when I have sold too soon for a loss). I sold into strength which made sense at the time. Having said that, little did I know, the stock would squeeze to .21... But I have to trade with discipline and stop holding for the "bigger profit" which I did.
I stayed in this trade way too long, stubbornly awaiting a gap up, until it failed multiple times to do just that. As the stock kept fading, I finally had to cut my losses, to avoid a bigger loss... which is positive that I'm finally starting to do more of that. But of course, shortly after I closed out the position for a loss, the stock gapped up BIGLY! FML!!
This was a good trade, with limited time in the position, which I prefer! If I remember correctly, I sold into strength.
Bad bad bad trade. Luckily I only had 1 share.
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