SOMX- Crazy Ride but Ended Well

So I broke my plan already. However, the trade did turn out well, very well.

I bought SOMX yesterday at around 12:55 PM Pacific time, 5 minutes before the close. I bought in at $9.20. I watched the stock move nicely; eventually hitting $10 which was a good time to sell for a number of reasons. One reason is that 10$ is a whole number and any time a stock approaches a whole number, it's a very cautious point. Second reason is I had about 30 seconds before the market closed and I wanted out. I really dislike holding stocks over night.

I went about setting up my order to sell at $10 and hit the preview before finally submitting my "final answer". For whatever reason, I don't know why, I never hit the submit order button right after the preview stage and ended up holding the position overnight. A definitely scary situation considering the stock fell all the way back to $9.20 after hours, wiping out all my paper gains. I immediately put in a limit order after hours at $9.10, .10 cents below my buy price. A tight stop price, indeed, but I wanted to limit the loss from my stupid mistake in case the stock decided to sell off at the open, I'd be out.

In the end, I was forced to hold the stock over night. The next morning I was watching pre-market to get an idea of what it was doing and was surprised to see it bouncing between 9.30-9.40. What was amazing was watching the stock jump .35 cents in 1 second immediately at the open. Before I knew it the stock hit $10.35, fell a bit and I hit the sell button and bailed out right at $10, which is the price I wanted out in the first place. A great end to a bumpy night; a 7.14% return!

The chart below is 2 days worth of intra-day data on 10 minute interval candles. The red and green lines roughly represent my entry and exit points.

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SPAB- Jan Gains Gone

*sigh* I don't know if I can really do this. I just lost all my Jan gains in 2 days. I know what my problem was, way too big of a position size.

 

SPAB opened at 1.90 and I jumped in at 2.00 The bid and ask were pretty damn wide and so the offer hit 2.24 and I had more in my account to cover my last 2 days losses and then some. But, that all quickly went away and it made since because the daily pivot point was right at 2.25 It hit the price twice and basically fell.

 

Freakin' market orders...I put in limit orders on the way down but nothing was getting filled so I said screw it and started putting in market orders and got filled at absolute horrible prices. On top of that I kept getting partial fills so I was charged a huge amount of commission just to get out.

 

I'm at a point where I feel like saying fuck it and just getting some job to work at for the rest of my life.

 

Well.. it's not that bad I guess. I'm still technically up 2% for the year so it's not like I blew out my account or anything. But all that work I put into Jan and now it's completely gone. My self control got tested, twice, and I failed both tests. I guess this is why I'm still a rookie.