The way to trade para is putting orders before the movement occur. You need to have a mental image that how the stock will look like. Once the movement happened then you put in order it's tooo late. However this is a very risky way to trade because theoretically it could keep going as long as it want to. The KEY is always always always know where and when to get out!!!!! The KEY is "pullback". you want to pay attention to pullback!!!! If the pullback is weak that's a huge red flag!!!!!! I made the same mistake on DGLY, LEI and many others and I paid the price. I don't want to ever do it again!!
Basically I got 2 plans for this. ss into morning push and looking for a fade or wash then wait for the bounce+stuff then get ss. Gladly I covered some into the previous day's support. I kept the half and added to my position risking $6. Unfortunately it breaks above $6, did r/g, HOD breakout and made monstrous move. Glad I covered all at HOD break or the loss will be worse.
quickly checked the daily chart and see $85 is resistance so my plan was getting ss near the $85 lvl and use it as a stop out point. Didn't workout so took it off. Good Loss!
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