TD 14: 6.2% loss

This morning my trusty screener showed me nothing.  So. much. nothing.

I kept looking and looking and decided today was not a day to trade.  There were a few tickers that stood out, but their charts were yucky and not obvious.  The only drug approval that came through was for another covid vaccine that frankly no one is interested in anymore.

I pulled up the morning stream of a trader I like, Warrior Trading.  He does his trades live in the morning.  I thought he would show me a way.

To my delight in how much I have learned about day trading, he also decided to sit out premarket.  That gave me confidence in what I have learned...mostly only trade on the clear winners.

I kept watching his stream as the market opened.  He decided to initiate a trade on SLGG.  It was one of the few that came up on the morning screener, so I decided to follow suit.  Unfortunately, I haven't watched him enough to understand how he does his trades.  He is a true day trader and once he finds a stock he will add and get out a million times as it changes.  I jumped in and bought on market just to watch it fall.  So sad.  I exited the trade as quickly as I could for a 10.2% loss.  Warrior Trading also lost his shirt, so that gave me a little sense of karma.

I kept watching him to see how he would recover.  Another ticker started having great movement.  He decided to buy, so I watched the chart for my own entry instead of trying to jump in right away.  The ticker did have good movement, and I was able to jump in and out for a 4.3% gain.  

After that, I decided to shut down my trading for the day.  Lesson learned today is that when the premarket has nothing going on, don't wait around for the regular market to show anything. It is in fact best to sit out rather than to force a trade.

Summary:

Ticker:  SLGG

Bought:  $7.03

Sold:  $6.31

Loss:  10.2%

Ticker:  RETO

Bought:  $2.30

Sold:  $2.40

Gain:  4.3%

Total of my $100:  $202.10, 7.3% average daily gain