Positions traded:
BKUNA
long at 1.02, sell at 1.25
+$350
$6473.11
Awesome trade with BKUNA today. I've been hard on myself when I execute bad trades, so you can bet I'll point out why BKUNA was very well played.
I got out of a morning exam at 9:29 AM this morning. Like Laura told me, waiting until 10:30 before entering a position is a good way to get a feel for how things are moving. Plus, in my opinion, you've got a good bit of chart action that can help you for some technical analysis. Before entering BKUNA, I checked out the VIX(fear index) and DJI. I noticed DJI was ~ to penny financials for the day. When you see this early in the morning. Definitely exploit it for the day. I saw a DJI spike while BKUNA was flat lining at 1.02. despit having a solid run in the first hour of trading, all of the signs were there and the DJI just did a nice angled 10/60 cross. I pulled the the trigger. I was quickly 1500 shares in. I checked out if the GOTS chatters were interested in shorting. Terri quickly pointed out it was on the short ban list. ALL SYSTEMS GO. I was now confident enough to walk away and go pickup my new speaker system. I returned to find the stock where I left it... trying to break resistance at 1.10. The DJI was still channeling upwards so I held. I saw the lagging line(I don't know if everyone calls the 60 day MA line a lagging line, but thats what i'll call it. The 10 day MA is the leading line) reaching a peak and considered exiting. I had a solid $150, but the bailout was just hours away. I held. It fell. I got nervous. I reminded myself of all the signs, and continued. As the bailout grew closer and closer it shot up. I didn't even realize it at the time, but this was a $ stock! It was breaking key price points at a very high rate. I'll need to pay more attention next time. The percentage gains were huge. I finally realized around 1.27 as my account broke $6500 in net liquidity. The fact that I realized this at the time is a good sign in retrospect. I really am learning when to exit! After i exited at 1.25 right before the bailout vote was finalized the stock shot to 1.29 and then fell slowly but surely. I had a great exit!
Size of position was a modest bet, but seeing as all of the good signs were there I easily should have done double my position.
One thing I did not do correctly was place the sell limit at the right price. The LAST was showing 1.27 but i put a sell limit at 1.25 since this was the ASK price and thus lost an easy $30.
This is something to improve upon, though i'm very happy with my trade.
