Saturday, November 26, 2016

No Plan on Profits

Market is at all time high and so as $AMD. It spikes almost everyday pre-market and after open.
I bought 3700 on 11/23 just before market close at 8.77

The plan was to sell it pre-market or in morning spike at market open on 11/25

My though was right, pre-market it spiked around 1% and after market open it spiked upto 8.91

My original profit goal was 300-500 dollar (1-2%)

As soon as market opened I was sitting at a profit of around 300$, which is 1%, then in one minute It went upto 500 just for a few secs.
I was stunned, didnt take any action and forgot my plan,

I recalled last week when AMD spike >10% on 2 days and thought it will do the same thing today , but It didnt

It started dropping down right away, I should have taken my profits at 400-300 level, but hoping it will spike up again , I didnt lock them and for sure in a few minutes all of them was gone.



Now , retrospectively thinking, I should have stuck to my plan and should have taken profits at 400-300 level, as that was my goal.
There was not big stimulas so no reason for stock to keep going.

I had sold it for 1% at market open , I could have dip bough it again around 10:30 and sold it for another 1% profits.

Bottom Line: No plan no profits

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