Review: 01/13/2015

Ticker: ATEN

I was lucky I was able to sell today. It was my fault that I purchased with unsettled funds and I hope I do not do that again. This was a 37 cent loss. You can read why I purchased this stock in the first place here.

So I wasn't around in the morning and when I got back, I wanted to sell as high as possible. I sold out within the channel as it could not break the resistance at $5.12. I realized that this stock was going downhill so I better get out while I could.  The lesson here is, when a stock is on a downtrend, don't be optimistic and don't fight it. I could have lost a lot more if I held on. Luckily, I didn't.

Note: I have realized a pattern with how a bar closes. It seems like if it is above the previous high, it is likely that it will continue the next day. If not, then it may be done. I need to examine this pattern more. I also have to pay attention with volume before I buy things.

Ticker: DCA

I sold for 2 cents higher, but I could have done a better job with this stock. I was stubborn and paid the price once again.

I should have noticed that the closing price was lower on 01/09/15 and that it made a lower high and lower low the next day. This was stupid on my part, so I lost out. The stock looked very good this morning until it plunged straight down. I was warned 4 days ago, so I think I might be blind.

Note: Take a look at today's and yesterday's closing price. Also take a look at volume to give you signals of when to get out. At the end, the decision is yours, but these signals should not be taken for granted. 

Please let me know if you have any comments or opinions. I would like to know if you have spotted any mistakes in my logic. 

Recap: 01/12/14

Ticker: ATEN

What happened? My stop was at $5.36. Why didn't I sell out? That's a good question because the answer is that I fucked up. This is not the first time, but I hope it is the last.  The reason why I couldn't stop out was because I couldn't make an order. I purchased with unsettled cash and now I will be burned.

Note: I got very emotional after my lost trade with BIND, so I purchased this stock just so I can get back the money I lost. Sure, it had potential, but I should have waited until my cash was settled before taking a position. Settled cash is the safest way to go, because I using it lets me get out any time. Unsettled cash is a lot more risker and it is not worth that risk for the potential reward, as you can see today. I have never been successful using unsettled cash, so I will officially stop now. My emotions have led me to horrible results. I must stop trading with emotions before things get fatal. 

Note: I have been making some stupid moves and it's been losing me money. I will probably reset my accounts this week and take a break before trading again.

Please let me know if you have any comments or opinions. I would like to know if you have spotted any mistakes in my logic. 

Recap: 01/09/2014

Ticker: ATEN

I saw this chart on scan and thought it could run to at least $6.00, so I took it as a swing.

Took my entry in the morning @ $5.45. I was stupid because I did not notice the amount of volume this thing had. There  was no way this thing could push higher. My stop was low of day so I waited until it formed an ascending triangle. However, it just faked the bulls out and fell. I still think this thing is primed to run once it gets some volume so I will be patient. My stop is below low of day @ $5.37.

Note: Remember to always look at the volume before buying in for a gap play. It has a large influence on how the chart could perform. If I had noticed, I would not have purchased the stock at almost its highest point. If the volume is high and the stock is popping, it is okay to buy at market. If it is low like this, try to be more patient and wait for it to retrace.

Note: Did you notice that huge volume spike at 11:00AM? It is very strange and saved this stock from going all the way down.

Please let me know if you have any comments or opinions. I would like to know if you have spotted any mistakes in my logic.  

Review: 01/08/2015

Ticker: BIND

 

       

I screwed up pretty bad on this trade and turned a winner to a complete loser. I was notified by GSP in the chatroom at around 9:38am about the gap and it broke the first 2 minute highs and ran. It ran too fast for me, so I waited for a retrace before buying in. GSP got in @ $7.50 which demonstrates the power of doing homework which, I didn't.

Take a look at this chart. When it broke out of the prior resistance @ $8.45, it seriously looked like it could go to the moon. The orange arrow was when I took my entry. This chart shows why I wanted to take it. My plan was to get out at the top resistance @ $10.75 or high $10s.

GSP made the call at around open, but it was way too fast for me. So I waited for a retrace. He ended up scaling out towards $10 while I foolishly held. Now looking back, I should have BOT partial positions at around $8.62 which was the support and then went full once it broke the second lower high after its first move. My entry was @ $9.20 as soon as it broke the lower high after its first leg up. My stop here was $8.44 and at this point, I thought this stock could just go up the high 10s. So my target was around $10.75.

So it ripped up higher and I got greedy. I didn't sell out because I thought I didn't make enough profit. I did not change my stop because I was too confident. At 11am, it was keeping a uptrend line so I just held it. When it ripped higher, I thought I was safe, but it just collapsed down. I ignored the every bearish sign in hopes of it bouncing back and I got burned hard. I also got a warning from VinnyB at around 11:45AM warning me about this stock, but I was too stupid to listen. When it collapsed at around $12, my stop didn't trigger, I had enough and marketed out @ $8.34.

Note: This shows the power of greed and how $0.80 gain turned into $1.03 loss. I let some rules slip by and I paid the price heavily. Some things to take from this is to take profits when up because you can always buy in lower. I couldn't have because of my broker, but it is still a lesson to keep note.

Ticker: MELY

So, this is a stock I was waiting to sell for a long time. I was lucky that it got out of $0.0001 state, but I was stupid not to realize the amount of potential it had. One lesson I learned from this is if you are up 100%, you fucking sell. 

I original purchased this stock thinking that it might just tick to $0.0002 the next day since the Level2 looked nice. The only problem was, the only market maker left in the ask was VFIN or VNDM with only 10k. I bought on December 18th @ 0.0001. I waited nearly a month for the volume to pick up for 100% gain. The trouble was, when I was waiting, I was stubborn about my limit and wanted to sell at $0.0003. However, it was this when I remembered how illiquid pennies could be and $0.0002 was 100%. So, I realized that any stock that goes above 100%, I should just sell immediately before greed kicks in. Also, if I sold, I could always buy back. 

Note: I was stupid for buying so early. I should have waited and let my money go elsewhere. However, I did learn how to play these kinds of charts. One just has to be patient and read the volume. As you can see, volume picked up to above 200 million at around January 5th and the pressure kept coming until it broke though today. When volume is that high, it means something is definitely going on with the stock, especially at $0.0001. I couldn't play because my money was tied elsewhere, but if it was free, I could have made 100% for nothing. I will keep watch for these kinds of stocks.

Please let me know if you have any comments or opinions. I would like to know if you have spotted any mistakes in my logic. 

Recap: 01/07/2014

Ticker: MCZ

I BOT a small position @ $0.44 to mark this stock because it broke both its channel and first downtrend line. Level2 also shows good support  @ $0.43. I will take a full position size @ $0.45 if it breaks the second downtrend line and will be aiming to sell out @ $0.47-$0.50. Stop @ $0.42.

Note: I think I should have waited until end of day to confirm if it holds. The volume is low, so I may have made a mistake here.

Ticker: DCA

I joined the bid @ $4.36 and got it. After seeing similar previous moves before, I decided to take this for a swing. My ultimate target is for a double top @ $4.63, but I will probably sell partial on its way up. My stop is below low of day which is @ $4.32.

Please let me know if you have any comments or opinions. I would like to know if you have spotted any mistakes in my logic. 

Review: 01/06/2015

Ticker: SCRC

 

This was my first trade of the new year. It was a stock VinnyB recommended in the morning at 11:30am on 1/05/2015.

I took the trade because it broke through previous resistance @ $0.17. I thought it had potential to make a move like it did in February. I wanted to sell out around $0.19-$0.20.

I BOT @ $0.1775 because it broke $0.177 which was the intraday's resistance. Since I wanted to swing it for the next day, I think I should have waited a little longer to make sure it didn't fall right back down. As long as it stayed about $0.17, it was a buy.

I SOLD @ $0.1925 because I thought the move was over based on volume and L2s, which it was. My mistake here was just focusing on the 5 minute charts. If I saw the big picture on the 15 minute, I would have known that it had another shot up. I got out because I didn't want it fading on me.

Predictions for tomorrow: I think this chart will hit $0.20 and maybe even higher tomorrow morning. This is because it stayed above yesterday's high with good volume. After that, this chart is already overextended so I am expecting a flush once it hits next resistance. I wish I could short it.

Please let me know if you have any comments or opinions. I would like to know if you have spotted any mistakes in my logic.

Watchlist: 01/02/2015

XCO: There will be profit takers out of the gate. It would be a good time to buy after bottom is found. $2.10 is the support, see if it holds there. If it breaks, reconsider swing and play day. Another good time to buy is if it breaks and holds $2.17. Swing and look to sell at $2.45s. Stop out @ $2.01 which is yesterday’s low. 9 cent risk.

NDRM: This will drop like a fly when market opens. SSR restriction and a huge panic. I think it will washup and retrace back up. Look for an absolute bottom and a channel and set your risk off there. Buy between $12 and $13.16. Sell @ $15.19 range. Stop below $12.  

DAKP: Buy partial if it breaks downtrend line or makes a higher low. Buy rest if it breaks 2. Hold for a swing until $2.10 until $2.30s. Watch for break at $1.80 and check what it does there. If it stays on good volume, buy in partial and wait to buy in @ $2.00 for rest. Stop below $1.62. 18 cent risk.

SDR: This chart looks great for bounce. People are looking to sell off in the morning. Look for $3.90 support to break and go for $3.83. Wait for it to drop and form a second high. Buy partial here. If it surges up and breaks $3.97 and holds. Go all in for swing. Stop below $3.83.

KRED: Morning. If it goes down parabolic. Be ready to buy bounce. 

No pictures. Too lazy.