My notes from morning before market open:
$MCUR posible short if not holding 1.4-1.50 area, long if it does
Notes after 1 hr:
$OGXI bought long on volume at $1.26 thru etrade, brake previous support level,
Results:
>>$MCUR got caught at open by that short spike and said will be on the run today without thinking its is on red zone. My plan was right by the notes but I act defferently then I supposed to, goin long instead short. Bought 100 shares @ 1.52 after that start goin down and cover my position at 1.35, after 10 min bought again at 1.39 thinking its consolidation area 1.35 and will spike again to 1.50 area, instead it went down slowly and cover again 1.32.
I know this are small positions but my idea is to learn and learn to react how the market works,
Looks like some days my plan works but most of time doesn`t. I don`t want to buy on alerts, I did before and never worked for me :).
>>$OGXI got it from finviz.com when it spike nice to 1.38 and seen holding previous multi month support at 1.21 area, got in with 200 shares at 1.26 and closed my position before market close at 1.32 because not proving on hold its gains.
After 2 trader plus comisions Im down over $100 witch will influence even more my future trades and makes me fell more scare to trade.
Any suggestions? Thoughts? What I do wrong here? after 2 win trades I get a bad trade :(.
Hey bro, was there volume with these trades? there always needs to be volume. To me, volume is everything. I see that you have a plan which is great. Maybe you should try swing trading. This day trading is very hard for beginners like ourselves. Even with the Level 2 and a plan, sometimes a stock just doesnt move in the way we want it to. Maybe you should use bollinger bands as an indicator. Using the bollinger bands in the chart helps me see where the stock can bounce from.
Good reminder... Sometimes i forget about volume...@Erik920
@Erik920 been out of profit.ly lately, true volume is key :)
Join now or log in to leave a comment