Happy Friday! I wanted to try something new this week and I’m not sure if this will be a good idea.
Behold! Trading Recaps!
As you may know, I like to trade penny stocks because they require little capital and they have the potential to double your money or more.
So that being said, this is the start of my trading journal!
Not sure if this is the best place to store them but I wanted to be transparent about how I’m treating these trades.
Since there’s quite a bit of people interested in trading penny stocks but FEAR, DOUBT and lack of knowledge prevent them from doing so.
Just yesterday there was a stock I was trading and I wanted to do a recap because throughout the day this trade tested my emotions.
Stock Ticker: HDII
I didn’t hear about it until the day after it’s initial MAJOR spike. And the reason for the initial spike was news of a reverse merger at the end of the week.
So based on this rumor chances are the price will fluctuate UNTIL news is CONFIRMED.
Knowing this one bit allowed me to sit back and wait for the opportune moment to jump in.
Since I wasn’t planning on holding this trade too long. I used the 30 minute chart to play this trade.
See that dip? That’s where I got in because I saw the red curve MACD signal indicator about to finish and reverse to green.
Price did bounce around that area and if you were watching it flicker back and forth. Your feeling of doubt might have crept in.
It sure did for me as well. I was starting to hesitate and get out but the chart told me otherwise.
And I had to trust my charts.
A nice quick profit waited for me at the end of this emotional struggle.
Sometimes that’s what trading is. Learning about your emotions and seeing how you REACT when things go in your favor.
Hope this was a short and simple trading recap.
I wanted to keep it that way.
For those of you who traded HDII, what were your thoughts?