First Trade after watching for confirmation through level II, with the goal of uptrend follow-through. Goal was 10c to 20c, and scale out taking profits. first scale, 21c on 100 shares, second out - since it was trending beyond double my goal of 20c, it was 62c with 200 shares. Wow. Biggest increase of share price I've experienced during the morning drive momentum. Was tracking commentary by Bob - Atlas and his Realtime running scanner, and dialed on level II, and maybe 5% of my focus on Atlas trading Floor Discord.
Entered again with the continued momentum, then Level II indicated a reverse, scaled out 100 shares at a -14c.
Kept 200 shares on a swing or long term - In this case because the news catalyst from yesterday makes this a more viable and valuable "investment" this swing/hold is ok, letting it either a) a swing because tomorrow there's a continuation, or b) this company legitimately has investment value.
Yep - bag holder for now. But don't feel that it was as bad of a "bag hold" as I've had early on in my learning in Feb, Feb 1 and Feb 24 specifically... following these "tuition" lessons - I've cut my losses much better - can continue to imporove - Don't change your mind on cutting, or risk/reward strategy-plan mid-trade!!!
Updated Note: 6.7.2021 -
This entry was really bad.
My rookie mistake was that this momo would have continued - but I didn't have enough knowledge to support this thinking - it was too extended, and it was chasing - I'd already made my biggest gain over my 20c goal. this 2nd trade should not have happened. Lesson Learned - needed much much more confluence and confirmation that it had any potential - which it did not.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-05-04 09:35:12 | PRPO | buy | $7.090 | long |
2021-05-04 09:35:23 | PRPO | sell | $7.300 | long |
2021-05-04 09:39:07 | PRPO | sell | $7.710 | 0 |
2021-05-04 09:50:32 | PRPO | buy | $8.870 | long |
2021-05-04 09:50:45 | PRPO | sell | $8.730 | long |
2022-05-10 12:00:00 | PRPO | buy | $1.250 | long |
2022-05-10 12:00:00 | PRPO | buy | $1.250 | long |
2022-05-10 12:00:00 | PRPO | buy | $1.250 | long |
2022-05-10 12:00:00 | PRPO | buy | $1.260 | long |
2022-05-10 12:00:00 | PRPO | buy | $1.250 | long |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!