RIOT Trade on Nov 20, 2020 09:41 from Leon64: Tradervue User Stock Trades.

Target: $6.80+ and potential hold |
Risk: $600 vs $6.10

Setup: The idea was trading it as Bitcoin broke out. I treated this like a derivative of Bitcoin and was trading it with Bitcoin at the time. There was a morning setup and I got in. Once it collapsed, I didn't think it made any sense and even averaged down. I held it overnight because I kept thinking it wasn't at the right price. I got out on the lows on Monday morning premarket thinking that BTC was weak. However, of course it doesn't matter if BTC is weak because RIOT squeezed due to MARA squeezing anyways. After all, it is a mining stock and not a true derivative of BTC.

Pros:
1. I developed some type of exit strategy from this if that means anything.

Cons:
1. RIOT is not a bitcoin derivative is a POS, piece of shit, miner. I didn't treat it as a shit stock and got fucked.
2. I did NOT adhere to my rules and held it thinking that it should have been up as BTC held up. I have to realize that I can always re-enter a trade and that protecting profits means I can add back into it at a later time.
3. The bears completely took over Friday and I didn't realize it. I even averaged down like a fucking idiot. I held it throughout the weekend with hopeful thinking and it fucked my whole weekend up.
4. There were other stocks I could have picked which would have avoided the whole mess like MARA. I bet on the wrong horse and paid the price.
5. I believe emotions got the best of me in this trade.

Note: I should not be holding derivatives over the weekends where I am already wrong as the risk is too great to bear. I couldn't get this trade out of my head and it ruined my whole weekend and Monday morning.

Note: Of course I got out at the bottom, but it could have been much worse. I have learned from this experience that I truly don't know how to trade.

Note: I don't know how to trade. I may have been lucky the whole time. My luck seems to have ran out.

Old Blog: