I was watching $GIGA today on the premarket and saw the big % gain, went to http://Finance.google.com and saw it had a contract with a company ( a contract winner, after an hour I found out the contract wasn't actually that good but no one noticed it and still the stock spiked).
I waited for the open and my play was to buy on a small dip with the open price as my risk, my entry point was 2.6, and my risk was 2.50 the open price.
it was a solid plan but I froze and did not execute. it spiked and I didn't want to miss out so I came with a new plan to buy at the yearly breakout of 3.15, I bought a small position of 50 shares because it was a really sketchy plan and it fell 0.10 cents so I cutted the loss, After 5 minutes it broke the 3.15 and kept going to 4.
GOOD THINGS I DID:
1.Cutted the loss.
2.Didn't chase the morning spike with a bad risk.
BAD THINGS I DID:
1.Chased the stock with a new plan because I was a afraid to miss out on this potential "Big play that comes once in while"
LESSONS LEARNED:
1. Always stick to your plan.
2.Never have the fear of missing out.
3.Don't try to make up new plans after you missed the play.
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