lots of issues there and i'm sure we've all had to deal with them or are still dealing with them.
You mention your strategy and for me that is the key to any trade. Decide what the trade is for before you buy ie. is it a short term trade or do you plan to hold for a while. Once you decide it will be much easier to set an achievable target.
As an example i have both a medium term position in NDO and i also trade it. Based on the depth action and chart analysis i got on again for a trading position today at .135 and immediately placed a sell order at .145. Potentially a quick $1k profit, and realtively easily achieved i think, with a low risk to boot. Meanwhile my medium term position sits there waiting for the big gains. The best of both worlds imo.
As for position sizing, i play it fairly safe there and allocate no more than 10-15% of my capital to any one stock. Going for the big position size and win is tempting BUT if the trade doesn't work out your $50k profit example could quickly turn into a $50k loss instead.
For me the key to short term or daytrading in stocks like ADY is to not get too greedy...set an easily achievable profit target to start with and work from there as you learn the trading behaviour of various stocks.
Just a few thoughts. Hope they are useful Cheers
ADY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
