Date: 10/26/23
Goal: (One Thing you Are Trying to Improve upon)
Improving my Exit Strategy - Not selling before Target is hit
Grade: (How Well Did you Achieve your Goal)
(B-) Did not let my frontside winner run on ABVC
Morning Temp: (Emotions, Sleep, Energy)
Slept Well, little stressed since i accidentally deleted my last 3 drc’s but got over it quickly and ready to trade!
Overview for Each Ticker: (Chart Screenshots, news, stats, General Performance, etc)
Ticker & Sector: ABVC - Biotech
News:ABVC BioPharma Entered Into a Term Sheet to License Global Rights of CNS Drugs with the Indications of MDD and ADHD to AiBtl BioPharma at the Valuation of $667 Million
Float: 2.28m
Intraday Chart:
Daily Chart:
Details:
This Stock make a very nice move Premarket from .80 cents up to $3.90s. I was watching this on a move up to 2$ I chased it a bit into the high and bought at 2. The entry was poor, it did pull back into the 1.80s before continuing higher. I did not add because of the downside risk of having already a high entry. Very poor entry that worked out. Something I could have done better was either get an earlier entry before the test of 2 or be patient for the pullback below 2 before the breakout. It was extended on the first test of $2. There was also another great entry on the first 1min pullback that held 2$ support. Pullback was on lighter volume and it was the first pullback on fresh news and volume. This was a great setup for continuation however I did not take it. Very nice bull flag breakout above the 3$ level again i did not take it because of it being much extended at these levels
At the open I think I followed my system well waiting for the dips with precise entries. It was a shame that the stock gave little opportunity since premarket but its good that I was able to manage my risk and profit on a backside move with my precise entries.
Statistics:
Good stats - goal is to keep accuracy above 50% and W/L ratio above 1.5
Easiest Trade(s) of the Day: (if you traded it, what were your entries/exits) (how did you trade it)
The Easiest Trades of the day were premarket on the frontside move on ABVC.
What I learned or Improved upon today:
Having precise entries on ABVC after the open, and was able to profit on a backside move
Changes I need to Make:
Letting frontside winners run, if it’s on a frontside even pullbacks that seem extended can still be great entries if it’s still on the 1st or 2nd pullback
Youtube Recap:
