I just traded one stock again today since I there wasn't much that fit my criteria. I am starting to get annoyed that I cannot trade setups that I think could work but the r/r for my small acct just isn't there. OREX short and GOGO long were two examples today. After watching more of tandem trader and seeing the way Nate and others actually trade in and out giving things room to play out vs. me who has to have a hard and tight stop otherwise the loss would be too big, it makes me realize I may be fighting a losing battle. I think I may just have to resort to just taking very specific setups on higher priced stocks that happen to have a low risk like .20 cents max for 100 shares or .5 cents for 50 shares.These momentum stocks may not be good due to the way they trade and how they can fake you out if you don't let it work for you. With lower priced stocks who may have .2 risk for my 100 shares, it would have to go up/down a much bigger amount % wise vs. a $40 stock going to $41 to make the same $100. I believe from now on I will have to exclusively play these types of stocks and just scalp around for .50-$1 gains per share.
ANTH: I saw this as a potential squeezer especially after CAPN
yesterday. It formed a flag at HOD and I went long with a .10 stop. It
went up a few cents but couldn't push through but I gave it some time
and just set my stop to almost breakeven and eventually I just got
stopped out and it didn't do much for the rest of the day.
Things to work on:
1. Incorporate changes for specific setups to trade as highlighted above for now until I can get some per share pricing solution and a bigger account.
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