Super Micro Computers, ParkerVision, Security Bank, Kforce
Super Micro Computers - meets most criteria - recent all time price low - and crossing of stochastic. Underbought and undervlaued. Can range on the day. One reservation is that yesterday's high was above the high of the previous three days high. Also gapped up overnight and not retrace so due a reversal?...Buy up to $6.40 - could this be like yesterday where I missed the boat and price continues to rise? Watch and learn! Bought and lost - again stop loss triggered - I think too tight and will vary now based on recent volatility.
ParkerVision - share tends to move more sedately but PR's are there. Buy up to $4. Ended at $5 - 25% - I would have made £1750! At least I can pick them :)
Security Bank - meets criteria - can range - volatile too Buy up to $2.45. This share plunged to $1.80 - had I chosen this my stop loss might not have been filled at the level stated and I could have been left holding a share that lost 25% of its value and cost me on a £7K trade £1.75K. Should I trade smaller amounts. Would generate more commission costs though not more PR as it would be shared around - in fact smaller PR requirement. Will add this to my Task list for further thought. Bought at £2.07 but took no account of wide spread which is likely to trigger my stop-loss. Third loss of the day. Very poor.
Kforce - meets criteria. Buy up to $7.70 above yesterdays closing as feel this share as legs. First choice. Bought at 7.71 and almost immediately triggered stop loss - admittedly very tight.
Three of my four shares have risen which vindicates my predictions but I did not capitalize on any due to all having more sellers than buyers in the order book. This gives me serious reservations about the usefulness of access to the order book. Suggests some orders may be spoof to put off buyers and other way about. If price continues to rise in face of sell pressure then ignore it? But then how to know when to get out? End up just following the price! Less likely to be spoof nearer the touching price as would get hit. I may test this out.
Stop losses though I want to reduce them this does increase incidence of them - I think they should be tight but flexible - a share that is more volatile should have a wider stop loss, less volatile can have tighter. Will implement this.
My worst ever day trading - lost about £370. Nevertheless due to misleading Feed - had I gone by price I could have made over £1000. Need to revisit use of Feeds - it could be this particular feed or feeds in general.
Perhaps I will work without feeds too - in terms of entry can always make that based on price - stop losses will be in place - and in terms of profitable exits mental trailing stops.
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