I must admit that I really enjoy momentum trading. I'm very happy that gamestop opened my eyes to this wonderful world of candlesticks.
I got sidetracked on my blogging again, but I have been making steady gains. I'm still fighting with the psychology of wanting to hold out for the giant gains. That has led to extreme frustration when I don't close out trades until the afternoon. That's the main reason I haven't blogged. I hate closing out trades in the afternoon after watching it go sideways all morning. I know the solution to this is to just cash out after a nice 3% gain. There is no reason to wait for more.
Here is my summary with more detail on today's trade:
Day 45: NMRD, 3.4% gain
Day 46: LEDS, 10% gain
Day 47: PLTR, 2% gain, SQBG, 3.2% gain
Day 48: EYES, 4.8% gain
Day 49: AMC, 4.7% gain (a great trade on a red day)
Day 50: PLUG, 0.2% gain....that's when I really learned about getting out early. But, at least I didn't lose!
Day 51:
Ticker: DBGI
Price Bought: $4.45
Price Sold: $4.60
Example of I could have been in and out in about 15-20 minutes. Instead I held on hoping it would start running. I watched and watched. It didn't make any huge moves, so I went ahead and sold for 3.4% gain. It seemed to be slowing down which doesn't bode well for market open. It might still run, but I'm glad to not be watching it all day. It was a new IPO from Friday, so it was hard to tell what it was going to do.
Balance of my $100: $552.15, 8.9% average daily gain
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