GEVO Trade on Dec 24, 2020 10:02 from yoosh: Tradervue User Stock Trades.

GEVO was up premarket, it dipped from $3.4 to $3.20 at the market open. Once it re-claimed the entry was around $3.45 risking $3.20 which is $0.25. My entry was a bit slow because I always want to make sure that it is not a fake out, but then that gives me bad entries.

Anyway with $0.25 risk I am looking to make $0.75 for 3:1 RR which would have meant selling at $4.28. I chickened out and sold in the first pull back. So there are a few lessons here.

All stocks will pull back!! Don't freak out and sell into the pull back. if there is low volume, it is probably not going to crack, it is just people taking profits. There was a clear 5 minute consolition during the pullback, so I could have added more into there (small size obviously and risking the break of that area). Anyway the stocks actually managed to reach around $4.28 exactly which would have satisfied my trading plan.

Traders use a trading plan for a reason and I should follow mine. There have been SOOOOO many trades that I have lost money on, when in reality they have been quality setups, but just poorly exected.