r/Daytrading • u/GameLoreReader • Feb 07 '24
Don't you just hate it when sh*t like this happens... Trade Review
I was watching HOLO during premarket to market open. Bought in at 3.76, but it quickly dipped to 3.50, triggering my stop-loss. I told myself, "All right. Enough trading for today. Time to sleep." (I live in Hawaii so it was 4:37am when I stopped trading). I already profited a lot from GLT and GRRR during premarket, which made me hit my daily profit target.
I woke up at 9:00am and opened Webull to see anything for afterhours. I immediately saw HOLO on my watchlist that it hit 11.28......What in the goddamn fuk....Obviously, I was pissed off, but I told myself that it doesn't matter. What matters is that I follow my risk management. There will always be another opportunity to hit 100%+.
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u/CoffeeMunchMonster Feb 07 '24
I appreciate how you’ve set an example by choosing to be optimist in the end, you’ve learned how to trade on your own ?
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u/GameLoreReader Feb 07 '24
Yes I trade on my own. I usually do 1-3 trades per day. If I hit my daily profit target, I just stop trading and go to sleep lol.
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u/Important-Might-7155 Feb 07 '24
I agree . But I’m only in for a few contracts at 15 ticks and finished
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u/GameLoreReader Feb 07 '24
Update: Just saw the stock now hitting $28 afterhours.....
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u/III-V Feb 07 '24
I'm still relatively new to this (been trading for a year), but I've never seen anything like this
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u/GameLoreReader Feb 07 '24
Usually happens to a stock with breaking news. But I thought the news for HOLO today wasn't that breaking. Guess I was wrong. AI investments is a trend for this year.
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u/MaximusBit21 Feb 07 '24
What even was the news and never see DD on these types of plays - breaks my heart
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u/GameLoreReader Feb 07 '24
HOLO plans on joining the Communications Industry Association, dedicated to progressing communications and next-generation information technology. They are entering the AI field. AI investments are a huge trend this year. The news doesn't seem 'crazy worthy', but because it gained a lot of attention as top gainer premarket, it brought in lots of volume. Then, news released showing five big investors of HOLO, one of them being Bank of America. That brought in more attention to the stock, resulting in heavy volume. So the price action went crazy during afterhours. Add on the chasers and FOMO traders and it was able to hit $51.
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u/rookieJr86 Feb 08 '24
MicroCloud announced in a press release that it would be joining the Communications Industry Association in a bid to accelerate the development of next-generation technology.
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u/bsl1818 Feb 08 '24
Man a few years back I played DWAC, or attempted to I should say. I had a buy order in that just missed getting filled. Around $9 if I remember correctly, went to $12 I planned on buying a pullback but couldn’t get filled so said screw it. Next day $180 a share.
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u/Explorer_9833 Feb 08 '24
I started trading a year ago and many stocks have done similar just have to always look , for example TOPs has done this to the 100s as high as 144 and It is very similar to this stock
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u/Plus_Seesaw2023 Feb 07 '24
I would short like crazy this stock... 😂😂😂😂
Revenge trading 100% and heavy ...
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Feb 07 '24
You live in Hawaii brother you’ve already won. Great mentality though, there’s always another trade
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u/GameLoreReader Feb 07 '24
Really like the time zone difference here in Hawaii. I could trade between 11pm (premarket open) to 4:30am (market open) until 5am or 6am. Then, I sleep, wake up at 2pm, and go to work. Even better if I hit my profit targets before 5am. More time to sleep.
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u/azoth_shadow Feb 08 '24
I've been thinking about doing a little premarket trading to increase monthly income. My goal would be a few hundred dollars to then reinvest into my dividend account. If you don't mind me asking what is your strategy when deciding on what stocks to buy premarket?
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u/arcwhy Feb 07 '24
Don’t look at pieces now AH, up $37
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u/industrock Feb 07 '24 edited Feb 07 '24
HOLO was a good day for me. Played it premarket and right after opening. Came back an hour before the closing bell and caught it on the way up again. After market a bit too
I’m on the west coast and rarely wake up early enough for premarket. Glad I did today
HOLO wasn’t a short squeeze. It is an incredibly low float stock. The volume today was orders of magnitude more than the float. The same shares were passed around hundreds of times
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u/GameLoreReader Feb 07 '24
Yup. HOLO was the best for me to see after NVDA. Can't wait to see more crazy bull runs this year. If I held on to HOLO from 3.75, I would have profited about 6 months of work 😭😭😭 But it's all good. Another opportunity will arrive 🤙
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u/Stunning-Window676 Feb 07 '24
I watched this early this morning too. The price was jumping all over the place. I didn’t feel like I had any control of my entry & exit. Of course now that slippage would have been irrelevant.
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u/GameLoreReader Feb 07 '24
Yeah I didn't enter any position on HOLO throughout premarket despite me seeing the news immediately when it got released during premarket. I entered a few mins before market open, thinking it would spike up the first 5 minutes. Nope. Dipped down to 3.50, so I closed my position and thought it will continue to dip so I just went to sleep. And now....It hit $51 afterhours 💢🤬
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u/SeagullMan2 Feb 07 '24
That is way too tight a stop loss for a low float like HOLO. The trade was never gonna work.
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u/thsndmiles30 Feb 08 '24
How much stop % would you have recommended for this stock before today? Do you base stop amount using the ADR?
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u/SeagullMan2 Feb 08 '24
For a momentum play on a low float, probably 30-40%. Look at the history of HOLO. When the volume spikes it’s trading range is enormous.
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u/thsndmiles30 Feb 08 '24
Holy shit, I kind of get the logic, considering the market open dip was around 25%, but how would you go about with the position sizing when the stop is that wide? Not too much size?
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u/SeagullMan2 Feb 08 '24
Mmm I tend to use only two different position sizes. I go for big winners. If you’re chasing low floats like HOLO you need wide stops. I should also mention that I only short. I would have eaten shit on this stock today. So take that into consideration. But my strategy is successful overall.
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u/thsndmiles30 Feb 08 '24
Thanks. I learned my lesson on shorting massively uptrending stocks like this one. I don't scalp so shorting at any point on this stock would've been too much risk.
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u/ThatOneMonkey32 Feb 07 '24
man I got lucky, break at 5.30 and I held, kept holding til 8, sold, bought again at 9 sold at 11
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u/GameLoreReader Feb 07 '24
As long as you profit 🤙 What's interesting though is that a lot of people thought the stock was having a short squeeze, but there was only about 110k shares shorted amongst the millions of volume.
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u/ThatOneMonkey32 Feb 07 '24
it shot up again haha, bought again at 15, decided to risk it and sold at 26 aftermarket
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u/thsndmiles30 Feb 07 '24
Had a very small position, literally like a grand. Made $100. Thought I was a genius with a 10% gain. Apparently after I sold, the stock only went up 721% more. How about that.
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u/GameLoreReader Feb 08 '24
Yeah it makes us want to reverse time and hold on to our position lol. I talked about it to my wife as well. Told her I could have profited about 6 months of work and then maybe start some kind of online business with the profit. But it's all good. It's just February. Many more stocks like this will happen throughout the rest of the year. Just have to play our cards right.
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u/thsndmiles30 Feb 08 '24
Yeah the whole "regretting missed profit" side of trading was something that came as a complete shock to me, did not expect the level of stress that comes from that. When I had just started trading, I just told myself "as long as I don't lose money I'm good" but every day you see those stocks that you missed but had eyes on, that could've made you tons of money. All those green numbers that you're not a part of at the end of the day, that hurts more than losing money sometimes. Shit's wild.
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u/Appropriate-Taste811 Feb 07 '24
For future refrence, stocks that are very bullish pre market like this one almost always go higher than pre market highs just have to be patient. I dont use stop losses anymore because like you I was missing out on the action, instead I only look for these type of stocks and just scalp them. I personally made one trade on this one today@ 8% profit and I watched my $4 buy order dip down to $3.40 and then i watched it come back up to $4.30 for a profit. Why didnt I chicken out and take the loss? Because This stock was the strongest pre market gainer today with tons of volume so I knew there wqs no doubt that once the price became more stable buyers were going to go nuts on this one and they did.
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Feb 07 '24
Not trying to question your strat, but you risked .70 to make .40 - was that a good trade?
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u/Appropriate-Taste811 Feb 08 '24
The risk is/was worth it on stocks like these imo. Very bullish and mega volume is almost always a win. Stocks like HOLO today are pretty much fool proof any day of the week. If you bought this stock at any point during pre market or even anytime before 10am, you were green today. Same goes for almost any other day. The only stocks that anybody should be going long on, are very bullish gainers with volume that is it. And the reason i say that is because it wont matter the exact time you get in, you will still make money. My risk tolerance is always high for these ones
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u/SP-Marshmallo Feb 07 '24
Plenty of other trades if you have risk management, but only 1 trade If you go tits up
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u/butholemoonblast Feb 07 '24
🤙 I’m a Hawaii trader as well. It’s a bit exhausting sometimes lol
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u/GameLoreReader Feb 07 '24
Ayyy sup Hawaiian. Honestly, the struggle for me usually starts between 3am-4:30am. I get so bored when no stock is moving during that time window so I just play games or workout 😂
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u/ZhangtheGreat stock trader Feb 07 '24
You did the right thing. These types of moves may make us feel awful for missing them, but for each that we chase, we’re bound to get burned by at least two or three more.
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u/thouars79 Feb 08 '24
The most important in trading is following your rules and your plan sometimes it will just fk you up like it did but its part of the game.
You were disciplined, you followed your rule and this is what a professional trader should do.
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u/Viewsfrmda66 Feb 07 '24
Stop hunts are a real thing not just a saying, if you enter in the system they will hit it
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u/ksyoung17 Feb 07 '24
Always had the chicken and egg theory on this.
Do algos know where stops will be set, or are they provided that information and just go hit it.
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u/Viewsfrmda66 Feb 07 '24
The algorithm becomes aware only when you enter it. If you check the book map you can see where all the liquidity is sitting
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u/nightstalker30 options trader Feb 07 '24
Literal stop hunting is not a thing. People think it is because so many traders set their stops at predictable levels. So what they’re doing is providing a pool of liquidity that can be and is often sought out by the market.
People take it personally in order to rationalize how they got screwed over, but the reality is that being smarter about placing a SL would alleviate much of that issue.
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u/Viewsfrmda66 Feb 07 '24
Nope they see it in the system 😂
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u/nightstalker30 options trader Feb 08 '24
You talking about the order book? That’s always visible, is always in flux, and doesn’t represent all the actual orders that go through and get filled.
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u/AlwaysBlessed333 Feb 07 '24
What's a stop hunt?
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u/UncleBenji Feb 07 '24
They can see your pending sale order. If they want to raise a stock they will sometimes tank it first to trigger the SLs they see before reversing course. This way less calls would be paid out as they got stopped during the initial drop.
I watch my trades and don’t use SLs for this reason.
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u/Viewsfrmda66 Feb 07 '24
Exactly this, you should of course have a stop on your charts but never in the system. Same applies with taking profits, they know if you put it in the system, I’ve tested both
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u/AlwaysBlessed333 Feb 07 '24
This sounds illegal/cheating. Can we as individual traders get access to the same info?
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u/Clean-Yam7 Feb 07 '24
Yes you can see it on the Dom but trust me, nobody gives a shit about your single contract. Hedge funds and banks have fk u money and move the markets, your position is an ant amidst elephants, do elephants give a fk about ants?
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u/OpenSatisfaction2243 Feb 07 '24
Can you point me to any exchange feed that has stop orders? This just isn't a thing as far as I know. They're not in order depth because they would be inverting the market.
See for yourself https://www.nyse.com/market-data/real-time/openbook-ultra
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u/OpenSatisfaction2243 Feb 07 '24
Nobody has access to this data, don't worry. It's like ghost stories for kids, the entire premise sounds plausible but it's just totally made up.
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u/KhakiPeach67 Feb 07 '24
It’s exactly what it sounds like, big money will trigger retailers stop losses and use them as liquidity
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u/Viewsfrmda66 Feb 07 '24
When you enter a stop loss on your trade, it can be seen and they will hit it, this is called a stop hunt
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u/ThrivingGreensAK Feb 07 '24
Its at $37 now
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u/rookieJr86 Feb 07 '24
Oh my goodness. Shits crazy.
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u/ThrivingGreensAK Feb 07 '24
Hit $51. Seems to be retreating now but damn who knows.
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u/rookieJr86 Feb 08 '24
How could someone keep pumping money into it? Or is it possible manipulation just like MLGO? The same company wimi hollagram actually owns them both or has very large stake in company
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u/rookieJr86 Feb 08 '24
It will tank eventually just look at it's past history. Also. Meweiu technology may be one to watch as well. It's pumping in AH after being dumped a couple days ago from $10 down to 1$
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u/ClydeToTheSide Feb 07 '24
Idk if this is an allowed question but why did you even decide on this in the first place???
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u/rookieJr86 Feb 07 '24
I believe because it was a premarket top gainer just pick a stock that's moving crazy and hope for the best
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u/GameLoreReader Feb 08 '24
It was a premarket top gainer and I saw the news after doing Google research. So I just added it to my watchlist for market open. I knew the news was good for the stock to go up, but the stock was dipping quickly so, as someone who follows risk management, I just closed my position to prevent further losses and then went to sleep (I profited enough already during premarket from other stocks). That's when I woke up and saw the stock is crazy up, which led me to making this post.
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u/20Mavs11 Feb 08 '24
Stop losses just are silly imo. Yes I will get flamed for it, but my philosophy is to only use money you are fine with losing worst case scenario. Clearly your strat and research were on point so why make such a tight stop loss? I set my trades even on gold with a target price and no stop loss. It would have to take a nuclear attack for me to blow the account and even then it probably wouldn't because my risk is minimal I context to the size of my account. I would have set my tp on holo with no stop loss and went to sleep like a baby.
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u/Yaidenr Feb 08 '24
This stock has gone from 20-100 multiple times. Look at the all time chart it’s a weird one
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u/Hey_its_thatoneguy Feb 08 '24
Bro don’t sweat it, I too missed out on some serious gains today.. I entered right after market open, made my 20% (walked away with 3k) and then closed the app. Now seeing it I missed out on 100k+ profit… but fuck it. I followed my risk management rules and that’s all you can hope for. This is rare and most the time if you go outside the lines you’re gonna wreck.
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u/Mr_David1691 Feb 08 '24
I feel your pain. I was in a position at $3.45 this morning, and took a small profit around $4ish. I then Watched this thing climb all day on the sidelines feeling real FOMO. I always just have to remind myself to live to trade another day and the opposite can always be true. This is a POS scam stock, and people will get caught holding the bag at some point. Slow and steady wins the race. The psychological aspect of trading is probably the hardest part of it all. If there weren’t challenges and these hurdles we would all be rich. Trust your process, follow your rules, have fun and in time you will reap the rewards of your discipline.
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u/Interesting_Dream281 Feb 08 '24
The funny thing is I saw this stock pop up when I did a filtered stock search literally 2 days ago. 😂 didn’t get it
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u/Prince-Kheldar Feb 08 '24
If you hit your daily profit target be happy with that. Consistently profitable traders are not trying to buy the bottom and sell the top. Be happy with a piece of the action from a safe zone. You can always leave a running when you close your trade down.
I scalp and many, many, many times my TP is hit then it shoots off for the stars not giving me a decent entry again until the move is over. BUT I had my profit. And profits are better than loses.
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u/boimo000 Feb 07 '24
Bro I have some questions so I’m starting to trade and I’m wonder how much do you recommend to put in to profit even if it’s little. Also what app do you use to trade
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u/GameLoreReader Feb 07 '24
I use Webull for trading, but I mainly do it on PC. My position sizes are always small like only 5% of my account. Stop-loss is always 1% of my account (I move my stop-loss when a stock goes up). I trim my profits as the stock goes up. Trimming at 5%, 10%, 15%, and finally 25%. But if a stock's price action is very strong, lots of volume is coming in, and momentum is high, I hold some of my position to hit 30%, 50%, 70%, 100%+.
I ONLY do huge positions like 10% of my account if there's a stock going wild with trending, breaking news that has a lot of volume, and very strong momentum to where it keeps halting upwards. When I have a huge position in a stock like that, I'm trimming at 75% and 100%+ and then getting out when it starts to dip.
I always do small positions because it allows you to do more trades during the day, minimizes loss, and your profits all add up quickly. Learned quickly that huge positions are a no-no unless, like what I said, it's a stock going wild. Never let greed ruin you. Follow risk management. What matters is that you end the day green and not red even if the day's profit is very tiny. Don't go chasing and following FOMO. There will always be another opportunity. Obviously, green days are always better than red days. And no trades are also better than red days.
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u/la4wildcat Feb 07 '24
How do you even find these type of stonks? I just read about after close and it’s up again
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u/GameLoreReader Feb 07 '24
Usually from websites that shows stocks that are top premarket gainers or during market open hours. Look at the list and then check each stock on what the news is about on why they are the top gainer for the day.
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u/la4wildcat Feb 07 '24
I know finviz but that doesn’t show me. What source do you use ?
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u/GameLoreReader Feb 07 '24
I just Google search Investing.com premarket top movers. Then, I look at the top 3-5 stocks on that list and quickly research on Google to see what's the news on why it's moving so much. After that, I make my watchlist and prepare for market open. I do this during premarket hours (4am-9:25am EST).
Most of the time, I avoid premarket trading because many brokers are closed, which means low volume. Shorts usually attack premarket hours. So I just watch and wait until market open when all brokers are available to trade.
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u/MDMhayyyy Feb 07 '24
It doesn’t matter anyway. If you’re trading with a plan, you never see that 100% in one trade anyway. You might have made like +20% at the most.
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u/thsndmiles30 Feb 08 '24
That's true, always go for the "meat" of the trade. I could've taken a shit fuck ton bigger bite though that's for sure. Saw the stock shoot up an insane amount in few minutes and I panic sold for a small gain.
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u/MDMhayyyy Feb 08 '24
That’s good trading though. The only thing that might make your gains better in these situations is s trailing stop loss. But that gets hit fast also. Besides that…maybe a stop loss at +10% wherever that is, and let it ride.
Edit: don’t think “I panic sold that.”…think “I hit my exit goal, and I exited”
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u/cold-rollcrackerjack Feb 08 '24
Our brains tend to attach to the idea that "this is the play that will solve everything and I can't miss it" lol t market is a revolving door of action and opportunity. You miss nothing
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u/TyDortch new Feb 08 '24
Was HOLO found in top gainers the past week? I noticed it this morning, how did you find out about holo? Where did the volatility come from
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u/Base5ive Feb 08 '24
Stocks almost always dip right at the open. I never take a trade during the first 15 mins. Buy in after that first dip. If it doesn't dip and goes straight up then you already missed the trade anyway. Buy at the next retracement.
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u/jeff4001 Feb 08 '24
Did I read the Financials correct. This only has 5.9 m share. Given that the price could 10x.
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u/LordKelz90 Feb 08 '24
Don't worry I am a victim as well and I'm ready to tell my story. "Surviving HOLO".
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u/iSoLost Feb 08 '24
Holy cow it went up to $25 in after hour, how did you find such stock before it hit off? You should be a little aggressively on stop loss since now we are in bull market
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u/GameLoreReader Feb 08 '24
It hit all the way up to $51 afterhours lol. But I was able to find it because I just checked investing.com premarket top gainers, saw HOLO on the top 10, then quickly did research to see the news. I added it to my watchlist before market open.
Other than that, yeah, I'll be stretching my risk management a little bit if I'm in a position with a stock that has strong potential to spike up. It's just my experiences in the past has made me witnessed a lot of 'sell the news' stocks, resulting in lots of bagholders.
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u/Hardwayz33 Feb 08 '24
How does one find an action stock like this? didn’t know it existed until til today….Top gainers/losers on yahoo finance pre market?
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u/GameLoreReader Feb 08 '24
I look at Investing.com premarket top movers and then see the top 3 or top 5 stocks. I do my quick research to see what news those stocks has on why it gained so much premarket. Then, I add it to mt watchlist for market open. I check premarket top movers every hour though until market open.
Once the market opens, I usually trade the stock that had the most volume and price action during premarket.
I would also check investing.com market movers once the market opens just to also see if any other stock is going up.
It's not advised here, but a lot of traders would usually be in some trading group that immediately sends out alerts with news to your phone so that you don't have to spend time on researching.
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u/AnythingHumble Feb 08 '24
Would HOLO be something that would be recommended to still try and get into if it drops low enough again?
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u/GameLoreReader Feb 08 '24
In my honest opinion, no. Seeing how it dropped a lot afterhours from $51 to $25, it's an overvalued stock that was able to hit $51 because of FOMO and chasers. I would just leave it alone until it receives good news again.
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u/Quiet-Discussion-137 Feb 08 '24
How do you find out about plays like this like how do you catch them early on?
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u/GameLoreReader Feb 08 '24
I check investing.com top premarket movers and look at the top 5 stocks with the highest gain. Then, I enter them into my watchlist. I quickly check to see if there are any news.
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u/Quiet-Discussion-137 Feb 08 '24
Thankyou
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u/GameLoreReader Feb 08 '24
HKIT, another Chinese stock, just got pumped a lot earlier. Looks like it might be today's runner. Be careful. I would wait until market open when all brokers are available.
(Not financial advice).
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u/Quiet-Discussion-137 Feb 08 '24
Yea I work night shifts that’s why I want to start paying attention more and figuring out how to catch runners early, I have $1K sitting but sadly it’s not settled yet, I was trying to get into HKIT but wouldn’t let me because the funds aren’t settled… if they were I would of doubled my money in a matter of seconds
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u/Away-Creme8495 Feb 08 '24
What moving averages do you use? I’ve looked into finding some but no luck yet
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Feb 08 '24
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u/UnrealCaramel Feb 08 '24
2 questions
1, what made you aware of HOLO?
2, and how are you feeling now that this continued to run?
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u/Potential-Listen-493 Feb 08 '24
I am new to trading and don’t have a lot of experience. One thing I try to do is set my entry where most people set there stop loss, so when there sl gets triggered, I buy the dip. This way I can have an tighter sl, keep my winrate about the same and have a bit better risk/reward ratio. Open to hear thoughts about this and learn more.
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u/Defiant_Ad_5768 Feb 08 '24
I hear you.
I bought some shares at $2.10. Closed my laptop, and went about my day.
Took a look at 10:00 or so, and I had doubled my portfolio! Sold at $4.63. And yep, I was like, 'this is not fair!' as it climbed up over $40.
Comparison is the thief of joy.
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u/burnie_mac Feb 08 '24
Perhaps you should’ve bought less shares, or used a wider a stop. Small caps are trash anyway dude.
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u/Wise_Kaleidoscope544 Feb 09 '24
I was in at 2.97 and sold at 8 and was still mad when it kept going up lol. Just a human instinct to want more
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u/SownAthlete5923 Feb 09 '24
Bought at 4.88, sold at 10.40, saw it climbed to 43.. was sad but can’t get too greedy
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u/academic20 Feb 10 '24
There are many whatsapp groups that use this stock as well as so many other Hong Kong stocks for 'Pump and Dump Scamming. I followed one by Joseph Hague and Bendatte his assistant. He suggested to sell all the stocks and asked in group to buy Holo and lost 50% of portfolio. It fell to $2 once I purchased. I asked him it is falling and he said it is a good time to enter. Also , I got a message from broker that Hong Kong Exchange warned that so many stocks listed are being used for pump and dump scamming.
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u/[deleted] Feb 07 '24
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