Hey
@tradesurfer
Thanks for the nice words, appreciate it.
I would like to run through this FOD trade just like i ran through the NVO trade after there were a few jibes about it being a pump and dump which we all know EVERYONE had plenty of warning about entering this trade 1.2 cents and below....( this was spotted and first mentioned 0.008 and below, and the real winner was
@drifta catching it @ 0.005 well done.
Anyways...back to FOD
I first mentioned this chart last Friday after the big spike day which caught my attention. You can refer to the post here. This is the day i bought in after doing significant research on the Thursday evening after the spike.
17/08/2018
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I thought i might have bought in a bit high after it dropped back a little bit on the Monday and Tuesday, but the volume was very light so i was not to fussed, after all my position was relatively small as it was a pilot buy.
Pre market this morning i awoke to see there that the buy vs sell side had increased too about 100 buyers vs 15 sellers ( I think the day before it was maybe around the 30 vs 15 mark ) Obviously this will peak anyone's interest as you know something must be up. Potentially a news letter out or maybe a broker report doing the rounds early. It could be anyone's guess. Whatever way you look at it, its a bullish signal for a move / fomo event. Maybe people are finally clicking onto the announcement from back on the 13th August.
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Here is a break down of the daily chart after market closed today. Technically this was just as good a setup as any, all it need was buyers and volume. Guess what happened ?
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I believe i stated in one of my posts either today or maybe the days before that if i was to see any kind of signal or significant move in price with sustained volume and buying, then i would add to my position. I did exactly that today on the pullback. Especially with that supporting volume and break out
And just to clear things up with transparency because i would hate for anyone to think that i had loaded up the stock and then pumped up the price to make the buy vs sellers impressive so i could offload the millions of units i have been accumulating which to be honest i think no one should ever have to prove..
Here is my trade history covering period of the original break out ( big green candle last week and todays action where i said i would add to my position if i thought there was a case to be had )
Notice that i have ticked both BUY and SELL to also prove that even after today's spike. I have not sold a single share. Maybe i should have ? But from my research and the action we saw today. I believe there is plenty of upside to this stock. Todays action was a simple case of day traders taking advantage of easy to move/manage spread.
Yes thats my BIG buy of 50k units that i did not offload today, and yes that is my 100k units i have bought on the pull back after reading the action for the whole day and the previous 2 days sessions.
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With that all said and done, this will be the last trade i will be defending because i just should'nt have too, no one should.
Just like all the stocks that
@tradesurfer has mentioned above, everyone had more than enough opportunity to get a good enough entry at or around near lows to provide a profitable trade ( thats why we are all here isnt it ???? )
If you are a old or new trader who happened to buy near the top of one of my calls, and get upset about it. Please go and review your trading strategy and study the charts, lead up action, and intra day action to understand the full picture. It takes years of practise. I still make plenty of mistakes. Just alot less than i used too.
Its easy to call stocks that have already moved and just keep calling them, ill admit that in the past before my suspension i was one of those people because well it was the norm, everyone one was doing.
Now im trying to identify low risk entry trades and provide the day trading thread with opportunities to to investigate at the same time looking for low risk intra day entries that provide swing back up. Hopefully we can all nail a few more before the week ends.
Spec market looks to be turning a corner, heres to many more runners to come!
Cheers all hope this information finds everyone well.