Starting premarket ss risking $16 over/under. The reason I started premarket was one day it gapped up big and sold off so I thought it would do the same thing. It wouldn't offer me entry at the open. Even if it does I would ss into parabolic BUT man I never thought it would go from $16 to $20 in 2 candles. I was also influenced BIG by VHC yesterday. Down $1w at the peak!!!! It almost got me passed out. I covered all and flipped long and ate another 4k loss on it. Same mistake Madaz made on AUPH.
after surpassed $5k loss on ST, I had no choice but using CP to trade. Went long pretty big despite lots of red flags. Definitely it was vengeance trade but couldn't help it. One last stuff into $17ish and then it pulled I had to cut everything. The trend was broken.
After took $1w loss on SMMT I went from another vengeance trade. Paid the price. Shitty day!!!
Lessons:
1) when stock is trading near premarket high at 9:28am, never EVER hold ss into open!
2) Keep emotions under control! It's near impossible to do it but you still got try!!!
3) rationalizing! Eager to make $$ back so started rationalizing the trade and ignored all red flags( under VWAP, low volume, way off HOD), Funny shit is even though I know when stock is trading under VWAP, it's very likely get stuffed and pulled BUT i still held long hoping/wishing!!
No comments:
Post a Comment