Todays trades were a little rocky, I’m not going to lie. I did end up in the Green overall for the morning which is always a good trading day no matter what! The first trade I took, was on CETX. This stock popped up on the breakout scanner I use through the TD Ameritrade software ThinkOrSwim! See how to build a day trading scanner here: https://www.youtube.com/watch?v=5eVPH-MNP7A&t=14s. I decided to take a trade once I noticed the price action stalling out to the downside, and the volume picking up on this candle. (see chart below)
I entered with 2K shares with $2.86 cents as my Fill. I exited the trade at $3.10 cents after a slight pullback from the previous high. This first trade was green, earning $0.24 cents on 2,000 shares = $480 bucks. Unfortunately I gave most of this profit back in the next trade.
I placed another trade on CETX after the price action started to consolidate like it was about to go for a second push. I should have been a bit more patient with the chart, and waited for a better opportunity later in the morning. This is how that trade went (see chart below).
I entered this trade with another 2,000 shares on the break of the previous high expecting a push. Looking back I should have exited the trade after not seeing the breakout immediately. I scaled out of this position selling 1,000 shares on the first red line, and then the final 1,000 shares on the lower red line. My overall loss on this trade was $340 dollars leaving me earnings on this stock at $140 dollars for the morning, I can’t complain.
The other stock that I traded this morning was DOVA. This stock had a sort of red to green type of move. I bought in after a green candle started to squeeze lower into a reverse hammer bearish candle. (see the chart below)
DOVA has a higher price point than the majority of stocks that I trade. I typically try to stay below $10 dollars, but this stock had potential for a scalp. I was only able to trade 300 shares of DOVA, but the trade went quickly, and earned a profit of $102 dollars. My entry fill was right at $14.26 cents at the top of that consolidation on the first 5 min candle. The price action pumped back up after the first dip allowing me to sell my position at $14.60. This was the most solid trade of the day because it went exactly as I expected! If you notice you have a particular keen sense on a set up, and have been successful at trading it, always go with that.
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