Shared by
Jet_Capital
Nice profits. Wish I would have held. This was an account changer. I left about 3k on the table and this stock broke its pre-market high which was above $25.
Had 500 shares but I couldn't and didn't want to risk it anymore especially I know how fast a momentum play can drop on you.
But one thing now that I know when a merger happens is to let the chart develop all the way.
I had a great entry at first and the second entry wasn't all that good. Was down close to 700 at one point and held.
I broke the rules of going in 500 lot which the new rule was to go only with 100 shares until I developed better discipline.
I did get lucky on this one due to breaking my rules.
What to do better is to let the chart develop on merger news and let profits print. Follow rules and go in with a smaller lot so the account doesn't take a large hit.
Great to make profits but to break rules isn't all that good.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-11-01 10:12:34 | BTTX | buy | $14.730 | long |
| 2021-11-01 10:24:07 | BTTX | buy | $16.500 | long |
| 2021-11-01 10:24:18 | BTTX | sell | $16.380 | long |
| 2021-11-01 10:24:18 | BTTX | sell | $16.380 | long |
| 2021-11-01 10:24:18 | BTTX | sell | $16.550 | 0 |
| 2021-11-01 10:27:48 | BTTX | buy | $17.383 | long |
| 2021-11-01 10:59:00 | BTTX | sell | $17.890 | long |
| 2021-11-01 10:59:00 | BTTX | sell | $17.870 | 0 |
| 2021-11-01 11:00:20 | BTTX | buy | $18.729 | long |
| 2021-11-01 11:01:22 | BTTX | sell | $18.720 | 0 |
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