Trade #91 – Next Level

In Trades by JCLeave a Comment

I haven’t been blogging a lot lately. Just didn’t feel that it’d be worth going over $0.01 and $0.02 cent gains. The $0.01  to $1.00 stocks tend to move on news then come right back to where they started from. Not a lot of price depth.

I’ve been trying to get better at locating support and resistance as a stock begins to bottom out. Reversal trade plays like the one I took today require a lot practice and observation. Trying to caught a falling stock is risky!

Leading up to today’s trade, I knew that others were looking at $NWBO for a bounce. The price dropped last week and no one really knew why the stock was falling.

I noticed it was one of StockTwits most talked about companies last week. I was expecting to see strong volume at the open and for it to remain above last Fridays close. As the stock tried to retest the lows around 10:08am, it appeared to hold up. A bullish sign.

I went long at $4.44 and then sold at $4.84.

Things are starting to come together after 13 months of trading and $1,000’s of dollars spent on educational material. I’m still using TC2000 as my charting software. I’ve just started using Trade-Ideas as my scanner.

Below are my trading results for this month. Just one loss. 🙂

Now that I’m felling a little more confident and prepared, I believe its time to start trading the $1.00 to $5.00 stocks again.

I’m taking it slow. No expectations, just a lot of motivation.

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