Trade #78 – Too Excited

In Trades by JCLeave a Comment

I got a little bit too excited this morning. Took a few premature trades thinking I’d found a winner. Ended up getting burned 3 times before I got it right.

Cockiness and feeling way too eager got me in trouble this morning. I thought $GEVO would be able to hit $4.00 going into the morning run-up. It had over 100K shares traded before 8:00am. It also had a fresh press release and a low float.

The news story was pretty weak. I knew that going in..

I need to chill out and wait until closer to the open before trying to guess a stocks direction. My first thought looking at the chart around 7:30am was “short the morning spike”. My gut feeling is what ended up working in the end.

I lost about $50 today including commission fees. For the next couple of days, I need to limit myself to one good trade per day. My emotions got the best of me this morning, it had nothing to do with trading.

Another lesson learned I guess.

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