May 5 - Rookie Swing Trader Journal 2021 - METX


1 hour before the market opens...

How's my purchasing power today?
  • I can buy 5 stocks.
What's SwaggyStocks saying about Wallstreetbets ticker sentiment?
Any stocks in my Yahoo Finance watchlist to buy? 
  • None immediately. 
  • Set dip-to-support Yahoo Finance alerts.
  • METX. BUY at $1.60. DONE.



 Any tips from TraderTV Live?
  • Buy on dip from late April to early May 2021.
  • Wow, they are right. 


Question to self: How to track medical biotech stocks, meme stocks, and penny stocks?



Market opens...

Which stock in hand can I sell?
  • ADVM. Bought $4. Stop $3.47. Target $4.5. 
  • MDNA. Bought $3.60. Stop $3.49. Target $3.81.
  • METX. Bought $1.60. Stop $1.53. Target $1.90.


Crypto

See you tomorrow. 

~ Rookie Trader 

PS: I would like to thank the following...


What did I learn?
  • Supertrend strategy doesn't work after an uptrend. 
  • New strategy. Fibonacci Pivot Point Resistance and Support.
  • Queue GTD for every buys and sell. 
  • 10% strategy is not efficient. 5% profit is faster to reach. Hence Change to >$100 target strategy instead. 
  • Buy quickly once I identify a stock to buy.
  • Missed SEAC spike 3 times within a week. Dropped to negative immediately after the spike. Lesson - Queue up to sell using GTD. Forget about using alerts.
  • Premarket moves are irrelevant and distracting. Stop tracking them. 
  • Buying at the market close is not a good idea. Too many premature supertrend false alarms. Stop trading the closing hour. 
  • Sell immediately if price spikes on news.
  • Missed the NFT STOCKS!!!!! Pay attention next time follow the trend.
  • Follow most-watched stocks on yahoo finance coz they are more volatile. 
  • I missed many buy signals in the travel industry. So please Monitor all related big movers every day.  
  • Remove emotion from the equation.
  • Sell. Don't hold. Don't be greedy. 
  • Sell when the target is hit. Don't hold. 
  • I need a cut-loss strategy.
  • If I don't sell, I will have no capital to buy. 
  • Stop thinking that I should have held the stock that rose 100% times up after selling. Remember SEAC. Locking the profits at hand is better than risking the opposite direction. 


















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