TD33: Learning how to bow out gracefully

 I made 2 trades today which I don't usually do, but I was inspired by Warrior Trading.

I decided to purchase RMO this morning.  It had good news, had a big premarket change, and looked good to me.  I bought it, and it didn't move much.  Should have accounted for volume which is the third ingredient necessary for a good premarket mover.  

Fortunately, I have finally learned when to exit a bad trade.  As soon as the price hits the VWAP, I know to get out.  Don't wait around hoping for a big reversal.  VWAP and slap it out.

So, I lost 1.7% on RMO.  I was watching Warrior Trading live stream, and he purchased another big premarket gainer, SJ.  He was explaining his criteria and the technical indicators, so I decided to jump in as well.  He's big on the first 5 minute candle to make a new high, followed by a pullback on the 1 minute candle as long as everything is above VWAP.  He calls that a bull flag breakout.  

Anyway, I bought at a decent entry and when the bull flag breakout was false, I sold before it came down to my entry.  In and out.  Basically, he sets the next target that the stock should break, and if it doesn't break, then get out immediately.  So, I made a 1.4% gain on SJ.

All in all a 0.3% loss, but so glad to see how to exit a loser at a good point before I lose my shirt.

Ticker:  RMO

Price Bought:  $9.06

Price Sold:  $8.90

Loss:  1.7%

Ticker:  SJ

Price Bought:  $14.60

Price Sold:  $14.80

Gain:  1.4%

Overall Balance of my $100:  $162.29, a 1.9% average daily gain