I guess I'm a bit of a Ying and Yang trader this week... my position and modified plan with $TPAC failed me epically -$88.00 with -52.38%. I have no one to blame but myself and it did some serious damages to my E-trade account. That said, it did not go wasted. I am learning and will take that loss and take a long hard look at what went wrong.
#1: Not enough DD on the stock or the promoters
#2: As soon as the trade deviated from my plan I should have cut losses and walked, especially with no trailing stops available.
#3: Modifying a plan just because it appears a promotion is starting isn't okay... Always verify and look at the risk / reward.
One small blessing is that it was my E-Trade account with minimized the overall losses somewhat. Not sure if I should deal with the loss and look at building it up from the now balance of $98 or add a little funds to get it back to $200.
On the other side of the penny however I had an awesome momentum trade with $AXXE.
Yep, entered the trade with 4,500 shares at 0.12 ea. gained 29.17% and took profits with 3,500 shares. Since I had originally planned on this being a swing I decided to leave 1,000 shares on the table over night to see if it gaps up or spikes with morning momentum. ShareBuilder isn't allowing a trailing stop so I'm watching this one closely. I AM NOT REPEATING $TPAC!!!
Seems to be heavy promotions neat the EOD and after market. I'm leery since that is the same thing I saw with $TPAC. If it's the promoters looking to get a pre-market spike and sell of in the AM I'll be ready to pull out with profits. Only one more trade this week so I'm out tomorrow regardless.