A stock that had me in the running of over $100 but I didn't take the profit. Stock was testing the VWAP looking strong so I took a position knowing there was some PR on this guy today as well. I thought it was going to run for the day? Set my stop at my buy price and it did bounce up again but just dove. I'm thinking that due to the market being choppy it would have been best for me to have secured quick profits and called it a day. I will be doing that for the rest of the week, but when this hit its high note I kept reminding myself that I never let my positions run long enough.
Execution detail:
Where was your initial stop loss?
My initial stop loss was set at my buy price for it really was moving at that point. Now looking again at this chart later in the day it looked like it consolidatedtill about 1100 and just grinded out another $2 bucks.
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Any pop you get at the open, always sell some shares to lock in profit.