Day 38&39 Trading with Ricky

Day 38&39

Outcome: Win

Physical/Psychological: Well Rested, 5 hours of sleep. felt calm.

overall market: down

News: Moleculin Biotech Provided A Preliminary Update On Recent Clinical Activity And Expected Near Term Milestones For Its Lead Program MB-106 For The Treatment Of Acute Myeloid Leukemia
Review: In today's journal post, I'll be sharing my profit and loss updates for days 38 and 39, continuing my commitment to transparency. Last week, I embarked on a journey from North Carolina to Colorado, leaving me with limited time for journaling or trading. Despite the constraints, the trades I managed to execute were largely profitable. Moving cross-country with children proved to be quite demanding, prompting me to opt for market monitoring over active trading to avoid any interference from external obligations.

This morning's trade unfolded as anticipated for a typical Monday market. Considering the historical unpredictability of Mondays and their contribution to past losses, I adjusted my profit goal conservatively to just 2%, down from my usual 6%. The ticker symbol, MBRX, exhibited decent volume flow, although not optimal, and the Dominator Master indicator indicated a significant spike, prompting my entry.

I exited the trade relatively swiftly, recognizing the challenge posed by a long wick on the previous candle that the price would likely struggle to surpass. As evidenced by the subsequent price action, refraining from further engagement proved to be a prudent decision.