Yes, you had no plan.
As you have no plan, you took no action.
You probably also sold out on the low, so double whammy.
The idea here is to NOT LOSE MONEY
You cant make money if you lose it.
I don't trade to make money, I trade to not lose money.
Every trade you do, trade to not lose money, and the making money will come.
Look at this chart of THD for example, it's a 1 year chart.
See the little pyramid peak back in November (previous high before this late run) ? then the decline until March.....as the chart reaches the previous high set back in November, which it reaches in say late March , then declines again from 2.4c back to the 2c mark, then bounced on huge volume, that was the time to buy.
It runs, it drops 15%, it then runs again, is a definate a buy signal and is
on large volume and
above that previous high in November.
If I go back via HC and see the talk around mid to late March, I bet you thats when the hype hot the stock.
Research the company + no hype on HC + Volume increasing + chart turning north + hype increasing is a buying signal 101.
So ok I buy ....but first must work out what price to sell.
See the next peak, I mean the previous peak back in August/September, that's at about 3c, so that would be my sell price.
The odds are it will struggle over the second previous high back in August, and has now been proven to be correct, and if you look at the chart, it barely got over 3c, and see what looks like a big M at the last high of the chart, that's a dangerous sign, only way is then down as it has double topped.
So buy at 2c, sell at 3c.
Ok so i miss the 1.5c and miss the high, but I make money, that's all that matters.
I set stoploss at say 10% under buy price, so 1.8c, I buy on volume, before massive hype, but only after I see all buy signals (volume coming into stock and passing previous lows.
That's it in a nutshell, well it's some kind of plan.
Good luck.
