(01/11/22) Let Your Winners Run
Moral of the Day: Let your winners run
News: None today, but on 01/05: “First-ever Nasdaq-listed Company to Offer a Dividend Payable in Bitcoin”
- Consolidated very well on the daily chart
- Low float
- News from a few days before
- Former runner
- Bottom of the 1-year chart
Took BTCS twice, both with small size because I was practicing in the morning and forgot to switch share counts to my normal/larger afternoon sizes so….
Great play though!
Love my patience on this one, love that I got back in when it was holding the breakout level. I’ve been waiting for this one to break out for a while now and I’m glad I caught it, even with puny size.
Would I have held all the way to $6 if I’d had normal size? To be honest, probably not, and that’s something I seriously need to work on. I need to move my risk up as it goes, not think about the money, and just let my winners run until my goal is hit or it breaks my risk. That’s something I’m going to be focusing more on in the upcoming days.
Moral of the Trade: Let your winners run and respect your risk on the way up
News: “Nutriband Inc. And Kindeva Drug Delivery Sign Feasibility Agreement to Develop AVERSA(TM) Fentanyl, an Abuse Deterrent Fentanyl Patch”
- Daily chart holding pretty well
- Low float
- Has the ability to run
- Heavy overhead resistance
- Weak volume on the day
I really thought it was forming a pretty nice triangle. With it being a low float, I was really kinda excited for this one.
I simply failed to take into account the super weak volume it was trading.
It didn’t spike on the break, no massive volume came pouring in. It simply turned around and dropped. The weak volume means it wasn’t churning through the bag holders stuck on the days 12/31–01/05. And if it doesn’t have enough interest to handle bagholders selling into it, it’s going to struggle to run.
Moral of the Trade:
- Former spiker
- Holding daily chart really well
- Lowerish float
- Super choppy
- No clean intraday setup
Man, I am so sick of this stock. I can’t even. By the last hour, I was practically begging CFVI to crash and hit my risk level just so I could stop staring and stressing over it. Like, who got time to sit here and wait for some bipolar stock to make up its confused mind on which way it wants to go???
Hell naw, not me! I’m freaking starving and I want to eat, damn it!
That would be me though, pick the choppiest stock I can find and hope it breaks out. No, but for real, it did form some semblance of a very choppy triangle and I bought on the break with a wide enough risk to keep me from getting chopped out.
Then I held on, respecting my risk, just as I trained myself to do. *silent sob*
Moral of The Trade: Stay away from choppy stocks. Forever. Ain’t nobody got time for that