Day #2 --->     -$5.00   -1%   6 trades (5 stocks)

Well, today was better in terms of learning how to actually submit orders with ETrade, so there's that!

Practicing with small positions (~$100 or less buys), to get used to the process of execution (what price to enter / exit at so you get executed where I want in/out),  and learn the patterns better.  I overtraded to get some practice in, but I will NOT get in the habit of overtrading!!!  I will NOT!!  I will NOT!

Pros:        Used small positions... small losses (and small gains)

                 Focused on top % gainers

Cut losses early each time (no more than 5-7% loss ever!!)

Used indicators most of the time (NEWS, EARNINGS, PATTERN, VWAP in afternoon, VOLUME, FLOAT, PAST HISTORY, RESISTANCE/SUPPORT, RISK/REWARD, etc. )

 

Cons:       Wasn't prepared going into ALL trades

                 Don't chase promoted stocks late

                Don't be spontaneous with buys!  Get over FOMO

     

LESSONS LEARNED: 

 

• Wait 15 minutes after market open to enter a trade (give stocks time to play out). 
• Prepare, Prepare, Prepare!!
• Use Risk Reward analysis on every trade until I become more comfortable doing it off the cuff.
• Stick to the plan!!  No matter what!
• Don't chase pumps late
• Don't be afraid to be patient.  Know your stop/loss
• Watch the volume when deciding on entry/exit
• Don't trade OTCs yet!!  Commissions kill me on small positions

 

TRADES

SOLO  - Best Trade of the Day!  16% gain.  Perfect setup

HOT sector - EV

Top % Gainer

Great setup CVC (tip from Mcroock), perfect Chart, Volume, and Catalyst

Gapped up

Breaking 52 week High,

float a little high, but not horrible

Waited 15 min to see how the market  was playing out

Bought above previous resistance
Took the single, and didn't get too greedy!  16% gain  (small position)  -->  meant to do 25 shares, but only took 4. but ok.

 

 

GTEC (twice) - Patterns repeat, they say!  (SOLO above)

Multi day runner (on pumps), no news

Low float, good volume, 52 week high

Late spiker for big % gains (30%)

Would have been a GREAT buy @ 6 or even 6.50

Chased this based on a pump notice that I saw late.  (DUMB)

Cut losses quickly

Rebought thinking it was still being pumped (WRONG) and to try to make up for above loss, should have watched volume declining, and time of day (10:10)

 

 

CBAT - Patience grasshopper!

 

HOT sector (EV)

Was a top % Gainer on the day PM

OK volume, gapped up premarket

Missed the perfect entry earlier (at 10:30ish)  (BOOOO) - need to use my STT alerts better

Hit HOD at 10:48, I thought it would run again and either double top or take off  (NEVER ASSUME - Market is in charge, not me)

Entry was Ok considering I missed the first spike, bought above support previous resistance

Then got spooked by the dip a minute or 2 later, and closing in on VWAP, so cut losses quick (Good)

If I had rode it out just a little longer, let it play, I could have taken a small bounce for a 5-10% gain before the failed spike

 

 

 

 

TNSP - Cup and Handle ??? (maybe)

Multi-day runner

Gapped up on the day

Top % gainer out of the gate

Was a good setup, but bought too early.

News at 9 am about expiring tons of share (lowering available shares)

Should have waited until it went past the prior resistance stronger

Volume was good

I shouldn't be trading OTCs / low priced stocks yet unless I am 100% sure, and it’s a perfect setup.