Day 42 Trading with Ricky

Physical Condition: Approximately 6 hours of sleep, feeling well-rested despite oversleeping by an hour. Mentally alert and refreshed.

Symbol: IBIO Trade Type: LONG

Result: Successful

Market Hours: Extended News (at the time): None

Adherence to Trading Rules: Although not part of my typical pullback strategy, I based this trade on a reversal play, prioritizing volume flow, which aligns with my first rule.

Review: This trade appears to be a reactive move, akin to chasing candlesticks. While monitoring this stock on Ricky's live stream and observing indicators like "my blessing indicator" and his new "yellow arrow" pointing upwards, I was inclined to buy. Upon confirmation of volume flow, I entered the trade. My preference is to initiate positions during significant bullish candlesticks and hold through the following one. However, I focused on Ricky's indicators, which had shown consistent success. As the HMA signaled a reversal with a green turn, I increased my position size and exited when volume declined sharply. Notably, I observed a double bottom, but the price failed to hold above VWAP (pink line) and continued downward.

Lesson Learned: Consider incorporating a reversal strategy into my rule book, integrating volume flow as a core principle alongside indicators like HMA, "my blessing," and the upcoming "yellow arrow" to inform decisions. However, it's essential to acknowledge that reversal plays may challenge my natural tendencies as a scalper, as they often necessitate holding positions for extended periods and enduring market fluctuations, which can be mentally taxing.

Symbol: BDRX

Type: LONG

Outcome: WIN

Market Hours: EXT

News (at that moment): YES; Biodexa's MTX110 Shows Promise In Extending Life Expectancy Against Aggressive Brain Cancers; Shares Spike Higher

Adherence to Rules: Initial entry – no; second entry – partly yes (reversal play). I recently experimented with Ricky’s new yellow arrow indicator, ensuring that volume flow aligned with my trading strategy.

Review: Credit goes to Hennessy for this trade; he forecasted a profit target of 1.45 on this stock and was on point all morning. However, I always stress the importance of conducting your own analysis rather than blindly following others' advice. Personally, I noticed significant volume spikes and large green bars, prompting me to enter during bullish momentum. Despite a minor setback, I re-entered the market when the stock showed signs of a potential reversal play. After careful analysis, I recognized the significance of my second entry, as it respected a new support area and reached Hennessy’s profit target. This stock continued its upward trajectory throughout the morning.

Lesson Learned: Similar to previous trades, I acknowledge the importance of considering reversal plays in my trading strategy. I'm also adding "my blessing indicator" to my rules; when it points north over the white line, it serves as a reliable buy signal.