Day 18 Trading with Ricky

Day 18

Today marked an improvement over yesterday. Despite not strictly adhering to my trading rules, I effectively managed my emotions, cutting losses early and allowing profitable trades to flourish without hesitation. Crucially, I promptly shut down my computer upon reaching the daily goal limit I had originally set, aiming for a 6% win on a full-size trade.

My focus today was on ELWS and DTSS. ELWS presented some challenges, initially trading below $2, contrary to my usual criteria. However, the volume dynamics appeared promising, displaying early strength on the dominator. Although a significant red bar on the dominator followed by a pullback candle gave pause, a subsequent green bar encouraged me to take a calculated risk. Despite exiting with a minor loss as the volume quickly dissipated, it was a prudent decision given the circumstances. Interestingly, the stock surged several minutes later, underscoring the unpredictable nature of the market.

DTSS, on the other hand, exhibited robust volume and a favorable price around $4.50. Although encountering a slight pullback (I wouldn't really count it as a PB when the candle continues to run up), I opted to enter on a bullish green candle, swayed by the strong volume. While acknowledging the inherent risk of chasing such candles, the trade ultimately yielded a satisfying win, avoiding a potential loss as the stock continued its upward trajectory. A subsequent significant pullback a few candles later highlighted the importance of patience, which could have enhanced my gains further.