Welcome to THEFREEDOMGRIND blog, all about day trading and the Stock Market. Wow, this stock was quite a surprise! OPTT was a parabolic mover this morning going from the $8 dollar area all the way up to $16. My overall profits on this stock was $1355 dollars. I made at first, scalp trades with 1000 share orders. Then as the trade got extended, I switched down to 500 shares to trade at the higher levels. Lets check out some of the trade highlights.
My first trade on this stock was actually off of the 5 min candle chart. I placed a Stop limit a couple cents above the $9.50 cent area for the breakout, I got filled quickly with 1000 shares, I then flattened the position at around $9.67 with an overall profit of $150. The next trade I placed was at the break of $10 dollars.
After being filled at $10.02, we entered a circuit breaker halt (all trading on OPTT stopped while the trading orders caught up). I sat through the halt and flattened out after trading resumed at around the $10.60 cent area. I now had a profit of over $600 dollars. So far so good. I then got another trading opportunity quickly as the price action got closer to $12 dollars. I placed a stop limit order at $12.02, this time with only 500 shares. I got filled and then almost flattened simultaneously, because the price jumped all the way up to $12.29 giving me a profit now of $825!! I made a few other trades with the same philosophy of half dollar and whole dollar areas to set my limits stops, and by the end of the morning session was able to net $1355 on OPTT.
The /ES mini trades went very well also. The SP 500 has been rallying for the past couple trading sessions making new highs both days. I followed my typical trading mentality by buying the dips on the bullish runs with 2 contract orders. I flatten out at +4 ticks and ended overall with over $900 in the Green.
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