$Rigel Pharmaceuticals (RIGL.US)$ anyone else get caught up ...
$Rigel Pharmaceuticals(RIGL.US$ anyone else get caught up in this, this morning and now hace a sinking feeling?
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
71105917 : friendly tip, dont buy the opening on things like this. it's always safer to buy a retest of support/an ema with a tight stop. even if you miss the move, it's better than getting gutted from a PM mover plummeting. which happens quite a bit in the bear market lol
73076862 : yeh, seems to be frkin flatlining. didn't move in but kept close eye on it...
Mr Krabs OP 71105917 : I definitely rushed in, but who knows, maybe I will get lucky.
71105917 Mr Krabs OP : it can happen, I just don't like the risk/reward. good luck
Mr Krabs OP 71105917 : lower what you mean about the risk/reward. Luckily I bought in during the lowest premarket dip. Im just hoping that fda approval can keep the price going up for the near future.
71105917 Mr Krabs OP : I don't know much about the FDA approval personally so idk, I'm more of a momentum/setup trader. like today I seen it holding the 100 ema on the 5m multiple times, on the 3rd touch I ended up scalping .9 to .98
the risk/reward is just not in your favor ( in my experience) with buying the open. it's much more profitable to wait for a retest, and there's less risk involved doing it this way because you just set your stop 3-10% under local support. gotta remember people that got in before you will be looking to lock in profits as well as new shorts being added.
Mr Krabs OP 71105917 : I thought about that after I bought in. I'm still a very new trader, and learning lessons the hard way. I had a moment to take some profits earlier, but it would have made my 4th day trade, and I'm not trying to get shut down this early in the game. They just brought a drug to market to treat leukemia tho, so I'm banking on it coming back up in a day or 2.
71105917 : it definitely happens, if you absolutely have to, you can take your 4th trade and take the penalty and just transfer money to a new account to avoid it. but I would try to avoid putting myself in that position more than once and would only do it to save a lot of money or lock it a lot of profit (I've done it before too)
if you're at your pdt limit try buying within the last 30 minutes if it's found a range. so you can sell/ leave runners the next day without really worrying about it. just don't do this with extremely volatile tickers with big size or it can still be a decent loss. I personally only try to buy things that are riding or bouncing off support.
RIPPER : Gut feeling is ALWAYS correcr