should i keep this in a single thread for all my trades or make individual post for each trade to keep answers separate? Im willing to make a fool out of myself if it helps others to learn also Here is my most recent trade I trade this stock for about 2 years now with reasonable success. Sometimes not... this time it wasnt i watched the chart every day and it looked like 2.20 was good support level since it didnt break it multiple times. I charted that long ass triangle on the daily chart. But dont know if it actually means something or not in this case... I can draw shapes and connect dots on charts. How do i know whether its useful or not i dont know yet So i started buying at 2.30 and then 2.20 But it broke that level so i bought at lower price as well. then it went up to 2.34 to which i thought "let the winners run" because i dont know how long i should let them run i didnt sell And it dipped right after along with the market.
Better put it in your Journal. let's zoom out to the max first. between 1996 and 2008, DPW was probably one of the best stocks for trading due to its massive volatility. after Apr 2019, it went into a comatose state after breaking the significant 300 support line volume was very high. but then it was because the price was relatively very low. I will zoom in later. are you doing day or swing trading?
What triggered your buy at 2.30 Why did you buy more when the trade was going against you. What is your exit plan.
I thought it would rebound back above 2.20 Which it kinda did but i also didnt know what to do at that point and missed the sell bus
OK. Now let me zoom in. The chart looks rather choppy. But there are quite a few long candlesticks. So that was good day trading opportunities. Now ref your posting #6. price broke the support line. Some swing traders were happy to short it at end of 10 Nov 2021. Is the price going to change direction and go north? As of now, there is zero indication.
How can you tell people are shorting or longs selling their losing trades? also how can you account for all the noobs like me who buy and sell based on absolutely no signals
There are better setups. This hasn't been trending for a while and even when it does it doesn't make a huge move on the upside.