YTEN Trade on Dec 11, 2017 09:39 from alext341: Tradervue User Stock Trades.

Funny thing is I woke up late for the market open on this day, 6:34 AM PST. I had a hard time sleeping and ended up oversleeping as a result. When I saw the time after waking up, I scrambled to turn on my computer and get to my trading platform. My worry was that I may have missed an opportunity to trade, but thankfully I was right on time.

YTEN was a stock that popped up on Ross's high of day momentum scanner and was halted when I first saw it. My strategy was to enter the stock just after trading resumed, which I did for 100% of my buying power. If I recall correctly, my goal was to scalp 20 cents on this but managed to get 31 cents. Some would say that I left some money on the table by stopping out a tad bit too early, but I disagree. The stock only moved another 50 cents before it began to consolidate. Plus, given the losses I sustained last week, I could not afford to risk letting the trade turn against me if it began to drop. I was also thinking clearly enough to allow myself to read YTEN's entry indicators to scale appropriately into the trade. If I had left the losses from last week set the tone for this morning's opportunity on YTEN, I would never have gone full-size on this trade. Closed $363.43 in net gains on this trade.

The setup is exactly the kind of setup I look for in a stock for a small account like mine. It's such that I can get a good entry ahead of other traders so that I can define a good risk-to-reward ratio for my trades. In gap and go setups, where traders oftentimes will have already traded the stock in pre-market, a lot of accumulation occurs in a 20 cent interval at market open that makes it only practical for a small 10 cent scalp at best. But with a small account at Suretrader, I cannot afford to risk losing 10 cents to make 10 cents when my losses are compounded by an expensive commission structure. The stocks that show up as the day progresses and as they make new highs are also best because Suretrader often delays in restricting the use of margin on these volatile stocks that they can only act so quickly on. Therefore, high of day setups are usually best for small accounts, and this looks like the start of the week in the small-caps for these kinds of opportunities.

The only problem with YTEN, however, is that the spreads were quite wide upon entry and all throughout the trade. I also could not go for a 50% BP scalp because Suretrader managed to restrict margin on it. I also chose not to trade NETE, which also made new highs of days. This was the right course of action, in my opinion, because we were getting later in the day, and there was more risk to put on trades that tend to trend choppier around this time. I now have some cushion on the rest of the week for larger-sized setups, if the quality of stock calls for it.