PAPER TRADE (WIN)

• Setup: -------------------------------------------------------------------- One Dollar Roll/Range Break/Red to Green
• Entry: --------------------------------------------------------------------- $1.00/$1.07
• Shares: ------------------------------------------------------------------- 1000/4000
• Stop: ---------------------------------------------------------------------- $0.98/$1.03
• T1: ------------------------------------------------------------------------- $1.21
• T2: ------------------------------------------------------------------------- $1.50
• Reward:Risk Ratio (T1): -------------------------------------------- 10.5:1
• Exit: ----------------------------------------------------------------------- $1.07, $1.13, $1.10

• Profit/(Loss) With Commission: -------------------------------- $187.50

• Details:
  $1 roll/red to green/range break, 1000 shares, then 4000 shares. This was an extremely powerful setup that could have been immensely profitable if I had been a little more committed to it. Firstly, I had been watching this for over two weeks waiting for it to $1 roll. When it started to $1 roll, it was actually simultaneously going red to green AND coming out of a range on the intraday chart at $0.97. The best entry spot would have been right at $0.97 with a full share size (in my case 5K shares). However, I waited to confirm it would actually blow above $1 and bought there, and only bought 1000 shares to stay conservative. I sold it all at $1.07 and then rebought another 4,000 shares at $1.07 for the breakout of $1.08 which was a range break on the daily chart. This gave me a nice profit cushion in case I was wrong with the larger share block. When it broke at $1.08 I sold 1K at $1.13 then trailed my stop up finally stopping out at $1.10 later in the day. There were a couple things I could have done better here. Number one would have been to commit to the trade at the beginning, buying a full 5,000 shares at $1. At that point I could have sold 2500 shares at $1.07 for a $175 profit and the other 2500 at $1.13 for another $150, making this a $325 profit. I also could have bought at $0.97 where the daily range break was to gain an extra $150. Finally, had I committed to the trade at the beginning I actually could have added another 5,000 shares at $1.08 and sold them off at $1.13 or $1.17 later in the day for a $250-450 profit. Overall this was a good trade, but for next time I will need to remember to just commit to it off the bat. The risk to reward was fantastic and the profit potential was almost $1,000 if I had played it with conviction.