My only trade today was RGSE. I missed a lot of other killer plays today due to my attention being glued on this stock.
I closed my RGSE position for a profit of $894.25. This is not a trade I am proud of though like I mentioned yesterday. I went on quite a ride and risked a margin call. When this stock went para this morning I admit I was nervous. I had to walk away from my computer most of the day because I could not stand to see any upticks. I had a chance on the pull in the morning to cover for about 2K profit, but I wanted to hold out for more so I did not cover and then the stock went para. I painfully waited for it to come back red on the day. Even though I did not catch the bottom and could have covered for more gains, I decided enough was enough.
Honestly, I got lucky here. I have seen other traders on twitter that blew up their accounts on this stock. This trade was a harsh reminder on the importance of respecting my trading rules and stop losses. Those rules are there to protect me and keep me in the game. I was faced today and yesterday with the stark reality that I might have to put my dream of trading on hold due to a blown up account. I don’t want to ever do that again! I am moving forward with renewed conviction on staying true to my rules… and counting my blessings that I live to trade another day.