Welcome to THEFREEDOMGRIND all about stocks and trading! Todays trades started rough! I traded three different stocks this morning and even into the afternoon trading sessions. overall it was a green day, but not by much.
YRIV – this stock performed very well at the open, unfortunately, I missed that opportunity and instead decided to watch TNXP which didn’t perform well. I ended up finding this stock after the big move in the open.
The first trade I placed on this stock was a 500 share order at $1.81 cents. After a second dip I added to my position another 500 expecting a bounce from the dip. Once the third red candle appeared on the 1 min chart I flattened out at $1.64. this put me in the red $150 bucks. Looking at the chart the bounce did occur on the very next candle!
I wasn’t able to recover this loss until later on in the trading session.
This was a risky trade! I placed a larger order here at the dip with 1500 shares and a stop loss at $1.50. It was pure luck that the stock pumped up 20 cents after the dip. I flattened out now with a profit of $285! This was a gamble and should never have happened. In hindsight I should have been done with trading after making two other small red trades on other stocks.
TNXP – I traded this stock pretty similarly to the way I traded YRIV. I bought in on the one minute right around the $3 dollar area hoping for a breakout. When it pulled back I averaged into the dip.
The entry arrows show my first order and my average in order. I exited the position quickly, and then was able to get back into the position for a small break above the 3 dollar area bringing my overall losses on this stock to $120 dollars after all trades were complete.
I also traded REPH with a breakout strategy but ended up with a really small loss of only $15 dollars.
I hope everyone out there had a great trading day. After looking back I am glad that I was able to at least manage my risk and not suffer any massive losses from todays trading.
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