Market Order vs Limit Order | Rookie Trader Journal 17 Jun 2021 - Bought TCOM

Is it better to buy market or limit? When to use which?

Go with a limit order when:
  • You want to specify your price. 
  • You want to trade a stock with a large bid-ask spread (more than 5 cents)
  • You’re trading a high number of shares (more than 100)
Go with a market order when:
  • You want a quick execution at any cost. 
  • You’re trading stock with a narrow bid-ask spread (typically a penny)
  • You’re trading only a few shares (less than 100)

How's my purchasing power today?

  • I can buy 2 stocks using Moomoo. 
Any stocks in my Moomoo watchlist to buy? 
  • TCOM. Bought at $37.37. 


Any tips from TraderTV Live?
  • None 

Which stock in hand can I sell?
  • ADVM. Bought $4. Stop $3.47. Target $4.40. 
  • METX. Bought $1.60. Stop $1.53. Target $1.90.
  • AAPL. Bought $125. Target $138 or cut at KDJ dead fork. 
  • VISA. Bought $233.27. Target $256 or cut at KDJ dead fork. 

How to track medical biotech stocks, meme stocks, and penny stocks... As well as any popping stock?
  • New strategy using Moomoo.    
  • Started on 7 June 2021. 
  • Scan Trade Heat list to look for 3 signals.
  • 1st signal - Buy on KDJ Golden Crossing
  • 2nd signal - Confirm uptrend with SAR and MA. 
  • 3rd signal - Double confirm with Oversold Analyses. 
  • Sell on opposite signals. 

See you tomorrow. 

~ Rookie Trader 
Buy Crypto?

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

Footnote to self:
  • Buy Market price when I see a signal. Don't buy at a Limit price. 
  • Buy on dip from late April to early May 2021.
  • Sell in May and go away. Reinvest in November.
  • August is a particularly strong month, September is an especially bad month for stocks.
  • 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.
  • Queue GTD for every buys and sells. 
  • 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. 
  • Sell immediately if price spikes on news.
  • 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. 
  • Locking the profits at hand is better than risking the opposite direction.
  • How to recover from stock market losses? How to recover my money lost? How to win my trading losses back? 
  • The best way to recover after losing money in the stock market is to invest again. 















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