10/5_$CTRV

Today was a bad day for me, unable to trade because I blew up my Suretrader's account and surpassed 3 trades on IB. Therefore I couldn't do anything today but watching how such great opportunity was slipping off from my fingers. It's strange to me that whenever I papertrade, I do better. Had I had buying power, I wouldn't do well probably. Emotions and biases play huge roles on trading. Every single time after what it has done, it always seems so easy to bank from it. Thanks to hindsight bias. the premarket downtrending must trapped lots of shorts which contributed the monstrous spike. this is the ticker you can hit homerun or blowup year's earning. So what's the lesson?? have big picture and avoid premarket and out-of-gate trade-long or short!!! it's 50/50 what stock would do when the bell rings!!!! the correct way to trade is making assumption and waiting for the confirmation before size in. From long perspective, if the stock can go across VWAP and holds higher low, there is greater chance it can do "openning range breakout". Just have to be careful that these days a lot of stock gives you fake ORB signal, it went above VWAP on strong volume and dipped down, that was fake signal. On short perspective, Wait for the stock making new low and give it a few minutes and make sure it can't hold and there exist solid selling pressure to initiate short. I wouldn't short this stock until spotting exhaustion candle-big and long red candle on 5-minute chart. remember, top-picking is fatal and must be avoided!!!! long or short, always wait for confirmation before size in, don't be a fucking scalpter!!