Post by
MyHugeErection on Jun 17, 2022 12:50pm
Freaky Friday Bounce and Nosedive ...
Well LSPD certainly looked good there for a moment but I wasn't gonna start chasing it on such a fast start because you never know when it can suddenly change direction and reverse on you, given the way the markets have been behaving over the past little while.
So Pachuko, here's another daytrading rule and a free tip for those interested: In most cases, never chase a stock at the open (there are some exceptions to this rule). Because you can easily get burned like I have had on more than one occassion, if it suddenly reverses on you.
So I went with a much safer, stronger text book chart trading pattern in FNV with a nice pullback and consolidation that I was a lot more comfortable trading. Like I've said repeatedly, it's all about the pattern. Always trade the pattern.
Traded FNV twice at it's first two pull backs. Made only .28 cents and .19 cents on each trade on an average of 745 shares per trade. Total take was $349.70. Not a huge amount but reasonably decent given the sudden, early, incredible, unpredictable, volatile market bounce and nosedive. And again, also way better than working a day job.
Would have held it longer after it's second pullback but there were way too many choppy pullbacks along the way as it rose, which can get real scary at times, where it could have also just as easily suddenly tanked with the rest of the markets.
But not only that, what also didn't help was that the rest of the major players in the gold sector, AEM, NGT, WPM and ABX chart patterns were unfortunately very weak as they all mostly opened in the red and were struggling severely.
Just take a look at where they are now. Given this, I'm actually surprised that FNV is still in the green, but that's why I like FNV, it's a stronger stock. Again, it's all about the stock and pattern.
Yeah, you try keeping an eye on not only your target stock trade but also the entire sector and the markets all at the same time. It's not easy because one small mistake can lead to a huge loss.
So I wasn't about to take any unnecessary risks and potentially lose money on the trade if FNV decided to go south along with the entire sector and the markets.
So, some profit is better than no profit at all where only the NASDAQ is presently in the green while all of the rest of the markets are in the red.
So, Masfortuna and Pachuko, today is a perfect example of why it's impossible, stupid, idiotic and just doesn't make any sense to try to post trades in real time when daytrading. It sounds good in theory but doesn't work in practice.
There's way too much to watch and keep an eye on all at the same time so you don't end up taking a loss on the trade. I only came out ahead by an average of .23 cents a trade. That's way to close to ground zero where I could have just as easily taken a loss on one or both of my trades.
But it's certainly a nice way to start the weekend with two successful trades on a mostly red day.
GLTA.
Comment by
MyHugeErection on Jun 17, 2022 3:09pm
hahahaaaa ... bought in again but this time 4,500 shares of LSPD at $26.97 after it's mid morning 11 am pullback and consolidation. Just got out at a little over $28. I'll let Pachuko and Masfortuna those petite penis buddies figure out how much my take was from the trade. Oh and guys, don't forget the $349.70 I took in this morning. GLTA.
Comment by
masfortuna on Jun 20, 2022 9:15am
Hey! I am up about $250 K in BTE alone this year even with this drop in sp...I guess if we are going to have a "pissing match" I might as well start peeing.