TODAYS TRADES: MFTB (-$735)

Well, Today was a red day. I saw this stock premarket and decided to watch this stock at the open. As you can see the Stock did perform well out of the gate quickly shooting from $3.20 cent to $4.20 cents. I tried to place an order of 2000 shares at $3.50 cent area, I was unable to fill. I tried to place a market order shortly after the price action broke that level, Still couldn’t fill. I tried multiple times to get in while the momentum was strong but was unable to enter a position. A few minutes later, an order went through and put me long 8k shares. The price action unfortunately already was reaching an exhaustion. I flattened the position at a $300 dollar loss, after a pullback.

I re-entered the position hoping for a second pump over the $4.00 dollar area, It failed. This should have been a flatten signal but I held just a bit too long. The next candle turned to the downside quickly and I flattened out with an overall loss of (-$735).

Losses happen, I am currently still paper trading in TD Ameritrade’s ThinkOrSwim platform. I have already filled an application with CMEG (Capital Markets Elite Group.) This will most likely be my brokerage moving forward and within a week or so shall be real money trading.

I hope you all have good trades to finish out the week as I will not be trading again until possibly next week. I will be posting informative pieces both on this blog and on our YouTube channel. To see our trading videos check out our YouTube channel by clicking HERE.

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