A trading buddy you can confer with helps you reaffirm the stuff you deal with as a trader is par for course, cuz a lot of it ain't easy.
We trade similarly & agree on cycle shifts etc. Going to social media for answers is mostly noise & distractions.
2 for 2 this morning $MI $SMJF
Excited to host a twitter pal & his fam this weekend. Met in 2016 & we’ve talked trades nearly every day since.
Fortunate to have a buddy who gets it, genuine & sincere.
@MicrocapEngine BIAF bioAffinity Technologies, Inc. Announces Approximately $4 Million Registered Direct Financing of Common Stock and Concurrent Private Placement Priced At-The-Market Under Nasdaq Rules
Liquidations all around today. . .
The fear mongering on social media from $BIYA is resulting in an easy day to short, precisely as I expected.
Don't let social media persuade you out of work, rather, sharpen your criteria.
@fadetrade_ Hey brother sorry to hear that. The discord ended for everyone, I don't have plans to reopen it at the moment. You can send me a friend request on Discord if you like.
@Eserver89 $BIYA I wasn't positioned anymore because volume dried & it was being accumulated.
The fade wave was over & it was flagging then broke resistance. I watched it expand without being positioned.
When a SC stock scans , I assume the stock is going to test the daily breakout level (swing highs) or gap level. That gives me reason to wait before entering & see what happens once it reaches there, avoiding many expansion moves to begin with. There's some exceptions.
These levels (targets) holders are waiting for to decide on selling or not so before the test the stock is thinner.
Be aware of accumulation & when volume dries after a fade, reasons to gtfo.
So generally, if you are shorting everything ahead of those key levels, you inevitably become liquidity more often & that's going to reduce your edge in the market.
We can't avoid every spike, we can just reduce the occurrences to the point that winners make up for the losers.
@ShortDaPos Curious what did you see on both tickers to avoid $SXTC and $BIYA? I see that you trade PM and chinese stocks, and both had recent runs and overhead. $SXTC didn't have the rapid/ramp up tape like $BIYA on PM open.
The daily chart is very important & most traders don't give it the consideration, positioning themselves on the wrong side of the flow constantly. While that can work for periods of time, the tail risk is much higher.
Ive been torched shorting in premarket, at the open, in mid day vol halts, news gaps & after hours spikes.
Theres too many ways to get you.
I’m still here withdrawing gains regularly after many years which is something traders need to do instead of pressing constantly. 🔑