"I swear I did not follow Tim on this. He just plans and executes faster than me... for now. I saw this in STT. Started making a plan and boom TimS enters. Well yeah I let the arrival of the alert influence me but my plan was to sell near the day highs 2.78 and get out if dropped under 1.40. With 300 shares I was ok with the risk at the time. This was really poor judgement on my part. Guess blog post coming..." was what I posted with this trade now I need to break down some points while they are still fresh.
Point #1 : I really need to factor the risk/reward into my trades alot better. .18 cents a share positive verse .22 cents down is SO wrong. I realized that once I read Tim G's comments in the chat room.
Point #2 : Don't try to buy the bottom of a dip. Wait for it to start back green a little or level2 shows bottoming action. Level2 probably could have helped my exit but I really didn't look at it during the trade too much.
Looks like it will be a TradingTickers weekend for me. Because I know Tim G covers risk/reward and Tim S is still working on his newest dvd. Will through some Dip buying video lessons in there too to round out the weekend.
100-300 share positions here I come. Until I have a record of some Good trades with good Risk/Reward.
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