Tuesday, February 9, 2016
0713 Tokyo time / 1713 EST... Was on my bed bout to head to sleep since i've got work at 1300... Opened up my twitter that i haven't logged in for months to set it up for stock alerts from guys i follow.. TRXC biotech with positive earnings + buyout rumour from johnson and johnson released that it was gonna be diluting $4.35million its stock at a price of 3.39.. I frantically read thru the filing and tried at least 10 times to get out afterhours but spent another 15mins reading up my broker's manuals learning how to execute an after hours trade.... by the time i executed, i wiped all my days earnings amounting to 800$.. soo salty... talk about perfect catalysts and the 1% chance hits you... i'm still breakeven with THST, will prolly sell at market open at a gap up and reassess how i can be prepared for the market better as well as learning all the tools at my disposal... ugh....
1st Trading Day
** Inserted **
Monday i had actually prepared and setup for the market day and babysat for the whole day. There was no ideal plays i was comfortable with so i sat it out... Looking back i hated that i wasted a whole day.. Fast forward to feb 25 when i became impatient and forced a trade, Sitting the whole day out and not making a trade/staying in cash was the best position to have been in....
Had both of sykes/grittani's watchlist on hand. only prepared/researched the watchlist 1hr prior to opening and didn't get the chance to scan pre-market/market open. ** Need to work on preparing for the market day **. Missed alot of the charts, too many charts up on my monitor and not fast enough/no plans set for most of them. Finally focused on TRXC as a potential dip buy, Goal was to dip buy y@ 3.7, bought at 3.9 chasing it due to fear of missing out. Trading more like Tim G for nasdaqs on this one, set risk at 3.8 but was a bad initial assessment due to it not proving itself as support yet. held thru a dip to 3.75 which was a higher low. RSI learned from Connor's DVD helped me stay with my plan and not get shaken out of the trade. Held as long as i could tell that the trend is holding. From the chart alone, at multiple times it seems that the tend is not holding but with the RSI, it gives a better look at where the strength really is. Tim G's way of lessening his risk by moving up support levels helps ALOT as long as i really give support levels time to prove themselves... 4.4 held as resistance and held thru a dip that tested 4.15 which was my support level but it was a 25cent dip that really scared me but i held thru my plan and the RSI still showed as an uptrend. 4.15 grinded all the way up to 3.37 and finally after a long ass hour sold close to half my shares to lock-in profits. ** i'm really glad that this stock is a nasdaq and during mid-day (which i tell myself not to get into since its so slow/non-volatile) but it helped vs being in a OTC since it gave me the time to think out my thoughts/plan. I really need to have a plan setup prior to the market open if i plan to trade OTC because of how fast the moves are compared to nasdaqs. I feel really good that i've locked in profits, hat's off to Superman/Tim.G.. You can't go broke locking in profits, I really had to resist the urge to make it bigger, but it really is about risk management especially once your ahead. I need to adjust to lock-in half the shares faster that way i can have more risk to let the rest of the shares ride. Waiting on 2pm est to hit to see more volume.. The stock is currently going in a higher lows, lower highs channel, ** As much as i'd like to see the stock go up, I'm really fighting to keep remembering that it's not what i think of how the stock should act, but instead REACT to how the MARKET acts on the stock. It's not about what i think that counts, it's what the market thinks that counts. Humble myself or the market will humble me. Downtrend til 4.2 and im fine keeping my support level at 4.15 due to not feeling like there's enough volume yet, gonna wait more til 3pm to see how the stock acts/330pm to see a clear trend. I'm hoping to hold o/n if it closes near it's highs/doesn't break 4.15 in a overall down market, what more if the market opens green tomorrow? Hopinig for a gap-up play/spike.. if i hold o/n... it's gapped up every day the last 5 days however red on the day 3/5.. last few times it's spiked in the year was followed by another green day so i'm hoping for another gap-up/sell at open if the gap-up is alot or sell into a spike if a small gap-up to this multi-month breakout. this 180k seller is at 4.40 still.. Unsure of really what to do, but this is gonna be speculative from here..1453TS: RSI dropped to 50 while staying above 4.3 which is a VERY good sign.. So many people sold with the stock barely moving from the high.. Looking good so far.. 1456TS: RSI at 38 and STILL at 4.3.. cracked 4.3 for a sec but gonna see which support level holds.. the higher it is from 4.15 the better.. numerous support levels at 4.15, 4.2, 4.25, 4.3 but the big ones im comfortable risking are 4.2 and 4.15..
1540TS: the chatroom alerted earnings on THST breakout at 1.5.. chased a lil bit at 1.68 bought on a dip from 1.9.. plan is to hold o/n 1.6 or 1.5 risk and sell half at 2 and ride the rest or depends on how the market opens tmrw / news afterhours - buy on previous day hod.
I'm an idiot for holding 2 stocks o/n .. FML i really have to prepare alot for tmrw and tread carefully cuz i know im pushing my current capabilities..
Monday i had actually prepared and setup for the market day and babysat for the whole day. There was no ideal plays i was comfortable with so i sat it out... Looking back i hated that i wasted a whole day.. Fast forward to feb 25 when i became impatient and forced a trade, Sitting the whole day out and not making a trade/staying in cash was the best position to have been in....
Had both of sykes/grittani's watchlist on hand. only prepared/researched the watchlist 1hr prior to opening and didn't get the chance to scan pre-market/market open. ** Need to work on preparing for the market day **. Missed alot of the charts, too many charts up on my monitor and not fast enough/no plans set for most of them. Finally focused on TRXC as a potential dip buy, Goal was to dip buy y@ 3.7, bought at 3.9 chasing it due to fear of missing out. Trading more like Tim G for nasdaqs on this one, set risk at 3.8 but was a bad initial assessment due to it not proving itself as support yet. held thru a dip to 3.75 which was a higher low. RSI learned from Connor's DVD helped me stay with my plan and not get shaken out of the trade. Held as long as i could tell that the trend is holding. From the chart alone, at multiple times it seems that the tend is not holding but with the RSI, it gives a better look at where the strength really is. Tim G's way of lessening his risk by moving up support levels helps ALOT as long as i really give support levels time to prove themselves... 4.4 held as resistance and held thru a dip that tested 4.15 which was my support level but it was a 25cent dip that really scared me but i held thru my plan and the RSI still showed as an uptrend. 4.15 grinded all the way up to 3.37 and finally after a long ass hour sold close to half my shares to lock-in profits. ** i'm really glad that this stock is a nasdaq and during mid-day (which i tell myself not to get into since its so slow/non-volatile) but it helped vs being in a OTC since it gave me the time to think out my thoughts/plan. I really need to have a plan setup prior to the market open if i plan to trade OTC because of how fast the moves are compared to nasdaqs. I feel really good that i've locked in profits, hat's off to Superman/Tim.G.. You can't go broke locking in profits, I really had to resist the urge to make it bigger, but it really is about risk management especially once your ahead. I need to adjust to lock-in half the shares faster that way i can have more risk to let the rest of the shares ride. Waiting on 2pm est to hit to see more volume.. The stock is currently going in a higher lows, lower highs channel, ** As much as i'd like to see the stock go up, I'm really fighting to keep remembering that it's not what i think of how the stock should act, but instead REACT to how the MARKET acts on the stock. It's not about what i think that counts, it's what the market thinks that counts. Humble myself or the market will humble me. Downtrend til 4.2 and im fine keeping my support level at 4.15 due to not feeling like there's enough volume yet, gonna wait more til 3pm to see how the stock acts/330pm to see a clear trend. I'm hoping to hold o/n if it closes near it's highs/doesn't break 4.15 in a overall down market, what more if the market opens green tomorrow? Hopinig for a gap-up play/spike.. if i hold o/n... it's gapped up every day the last 5 days however red on the day 3/5.. last few times it's spiked in the year was followed by another green day so i'm hoping for another gap-up/sell at open if the gap-up is alot or sell into a spike if a small gap-up to this multi-month breakout. this 180k seller is at 4.40 still.. Unsure of really what to do, but this is gonna be speculative from here..1453TS: RSI dropped to 50 while staying above 4.3 which is a VERY good sign.. So many people sold with the stock barely moving from the high.. Looking good so far.. 1456TS: RSI at 38 and STILL at 4.3.. cracked 4.3 for a sec but gonna see which support level holds.. the higher it is from 4.15 the better.. numerous support levels at 4.15, 4.2, 4.25, 4.3 but the big ones im comfortable risking are 4.2 and 4.15..
1540TS: the chatroom alerted earnings on THST breakout at 1.5.. chased a lil bit at 1.68 bought on a dip from 1.9.. plan is to hold o/n 1.6 or 1.5 risk and sell half at 2 and ride the rest or depends on how the market opens tmrw / news afterhours - buy on previous day hod.
I'm an idiot for holding 2 stocks o/n .. FML i really have to prepare alot for tmrw and tread carefully cuz i know im pushing my current capabilities..
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