LL Trade on Apr 20, 2016 14:15 from Frostman007_BOWS: Tradervue User Stock Trades.

Sim Day 4:
Thu, Apr 21, 2016
Total trades: 5
Total shares: 2000
Stock: LL (Lumber Liquidators)

Held this over night again, this is a cyclical stock - which means it tends to repeat a pattern. I used to make a very good side income of $3000-4000 a month on average spotting this kind of thing - I can use that!! It's like washing your hair, following the directions on the bottle "Wash, Rinse, Repeat". Right?

Holding it, is not something we should do, not something I am comfortable doing. Just like the other day, it scared me to death by gapping up in the morning, but I'm getting used to seeing that false flag and capitalizing on it. About 9:45 it formed a flag pattern and it started falling about 9:55. I had already set my buy price to cover at a high volume board price and my trade pulled the trigger for the 1st 1000 when it started meeting support again at the EMA 9 - $14.92 and then the last 1000 went at $14.86, as I scaled out. I'm up $336 for this trade today.

It's a learning process... I'm going to change my strategy a little bit though and stop holding it over night. Going to keep a closer eye on that gap up in the morning and play it that way as a genuine flag pattern after the peak at 9:30-ish.