chart link Bought this about 10 days ago at $1.11.
Been showing strength last few days but also large wicks to the
upside, then quickly coming back down.
Broke out huge this morning on large volume. Watched it
gap up to low $1.60's. Decided to take some risk (give it
room) but also wanted to protect the huge gain, so I placed a
trailing $0.10 stop when last trade was $1.75. Within a
minute I was taken out at $1.65, only to watch it rocket to $2.10
within 2 minutes. Price has settled down to $1.85 right
now.
Not complaining, but want to know how I might have managed this
better.
Hard to say anything regarding ADHD on a big gap without knowing
how relevant the news was and studying the chart further (don't
have time now). It's easy in hindsight to make changes but at
least you locked in a profit in accordance with your style.
In general, one can use the 9 ema on the 5 minute chart as a
guide and consider not being an all or none trader (keep some as a
runner in case it lifts further as was the case). Not all
gaps are the same...it's your trade and you just have to manage it
the best you can.
Overall, not much else to say - easy in hindsight to say other
things.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
ADHD - need advice for future
Posted by RichieD on 19th of Oct 2017 at 10:01 am
chart link Bought this about 10 days ago at $1.11. Been showing strength last few days but also large wicks to the upside, then quickly coming back down.
Broke out huge this morning on large volume. Watched it gap up to low $1.60's. Decided to take some risk (give it room) but also wanted to protect the huge gain, so I placed a trailing $0.10 stop when last trade was $1.75. Within a minute I was taken out at $1.65, only to watch it rocket to $2.10 within 2 minutes. Price has settled down to $1.85 right now.
Not complaining, but want to know how I might have managed this better.
Some doctors prescribe Adderall for that ADHD ;)
Posted by disciple33 on 19th of Oct 2017 at 10:45 am
congrats on a nice trade!
Posted by morton7 on 19th of Oct 2017 at 10:25 am
congrats on a nice trade! low priced names can move quickly in either direction so lock in profits when you can.
Hard to say anything regarding
Posted by steve on 19th of Oct 2017 at 10:15 am
Hard to say anything regarding ADHD on a big gap without knowing how relevant the news was and studying the chart further (don't have time now). It's easy in hindsight to make changes but at least you locked in a profit in accordance with your style.
In general, one can use the 9 ema on the 5 minute chart as a guide and consider not being an all or none trader (keep some as a runner in case it lifts further as was the case). Not all gaps are the same...it's your trade and you just have to manage it the best you can.
Overall, not much else to say - easy in hindsight to say other things.