This was a good trade I met all my 2Lynch criteria. The market has been very choppy and was ripping up and down all day. It started of working in my favour straight away. Then after about 20 minutes went in the negative.
It was a good trade and was a great pick so even though it was in the negative I decided to let the trade breath, I followed my rules and had my stop low of the day. by the end of the trading day I was slightly in the profit. be interesting to see what happens tonight when the market opens. Even though its been really Choppy stock and market I have heigh conviction of it working because of it meeting all my criteria and having a news catalyst behind it.
ORPH announces publication of results from its Phase 2/3 trial of arimoclomol in Niemann-Pick disease type C in the Journal of Inherited Metabolic Disease
Out of this trade with a 60$ profit which is great, it was a mistake to exit though. I meant to move my stop up but actually excited the wrong order. I used a limit order and it exited me straight away.
I learned if you use a limit order to sell below the asking price it will take you out of the trade straight away.
I would have gotten a better entry price, entered quicker
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