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Regarding opens there is an old saying. Retail opens the market...

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Infidel75

3,109 Posts.

169

03/04/19

16:56

Post #: 37980197
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Originally posted by rick64 ↑

Well a shocking day for me today.
Pulled my stop loss on LCK before I went to work as the pre-market was looking okay. 1st mistake by breaking my rules, am now down 19%.
Got home from work just before close and spat the dummy with LCK, decided it is going to be another long term hold.

Broke my second rule by chasing ISX up to .31. I had a buy in at .29, went to .295, went to .30, went to .305, finally got in at .31. Turns out if I had left my original buy at .29 it would have got hit at the open. Never again will I break that rule. I had picked that price by following my charts.
Ended up selling ISX for .31 so cost me $20 brokerage. May have done the wrong thing there also as it was trading well towards the end of the day.

What I do not understand is that I was trading the open and the indicative price was .31, and yet now I look at the course of sales it says it opened at .28?

Lessons from today:
Do not chase the open.
Do not remove stop losses.
I am so Bloody Angry with myself right now, after all the hard work I have put in, I go and blow it twice in one day!

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Regarding opens there is an old saying. Retail opens the market and the pros close it.
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