Not a bad trade however I should have had my risk at the low of 6.33 for a couple reasons:
1. It was the low set a couple minutes after I entered that at the time seemed a lot because it would have been 40 cent risk and a minimum reward of 80 cents or around 7.53 which at the time seemed like too much.
2. And secondly, it never broke that low, sure a couple of minutes after I sold it tested that low although it did not break it.
From there it hugged VWAP the entire time just until it started perking and eventually broke the pre-market high of 7.89 at 11:34; and from there it eventually climbed to a high of 16.35 or 143%.
UPDATE: Or I could get a better position and always think about my risk/reward -- ANOTHER LESSON LEARNED
Lessons Learned:
1. I should let my winners run longer.
2. I need to stick to a certain risk/reward if the stock is right (volatile, liquid, hot stock) and I need to change according to my $ amount.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-12-06 09:42:00 | ISIG | buy | $6.731 | long |
2021-12-06 10:02:00 | ISIG | sell | $6.661 | 0 |
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