Shared by
ckz8780
Broke big daily range at $2.50, though my entry was a little high given the intraday action. I cut the loss quickly when it cracked on heavy volume since my entry was too high but indeed I was a bit too tight. Had I entered at $2.48 I would have been able to hold through this. Also this is a bit of a tricky one to trade because it moves in bursts and requires a lot of patience (which I seem to lack, lol). It hit $2.70s the next day so it did turn out to be a really nice play. I've been daytrading this stupid thing since it was $2.25 and keep stopping out flat or for $10-$20 losses. If I had just swing traded it I'd be up like $2,000 lol, but at this point it is probably not as powerful since it's up 65-70 cents off the initial thrust back in late June. Here is a better chart with my entry at the green arrow:
2000 shares
-$19.60 (-0.80%)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-07-11 10:13:30 | ZIOP | buy | $2.520 | long |
| 2013-07-11 12:11:07 | ZIOP | sell | $2.500 | 0 |
Comments
ckz8780
Haha yeah! ZIOP in particular I have been trading for like 2 weeks. I keep taking $20 gains and $20 losses and all I'm succeeding in doing is paying the broker. Bastards!
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lol ya dude, if a lot of us swung our big day trading positions for days on ends we could be rich....when they work!!