2024/03/06 est - Day Trade CLSK
2024 March 6 EST
$CLSK
The importance of swiftly cutting losses cannot be overstated. Despite promising daily chart, $CleanSpark(CLSK.US$ could be blasting off, majority of the moves were already in the gap up during pre-market.
The huge intraday washing was fierce, resulting in a substantial loss of over $9,660 due to my sizable position. However, a subsequent trade of similar magnitude managed to recoup almost all the losses, leaving a day trade loss of -$1,516 from $CLSK. (Took away 19% of the last two days intraday realised profits, but still overall daily portfolio up almost 5 digits due to $Palantir(PLTR.US$ and $NVIDIA(NVDA.US$ daily surged substantially).
This episode underscores the importance of strategic decision-making during intraday trading. While fortunate to recover, it serves as a reminder that not every trade will yield favorable outcomes.
In hindsight, I should not delete my original entry at $15.10 rather than succumbing to FOMO trap moves and entered at $16.25. Stick to original order level could have potentially resulted in a substantial profit within a single day instead of many trades to recover my initial big intraday loss, not to mention the transaction fees incurred in a day will add up.
$CLSK
The importance of swiftly cutting losses cannot be overstated. Despite promising daily chart, $CleanSpark(CLSK.US$ could be blasting off, majority of the moves were already in the gap up during pre-market.
The huge intraday washing was fierce, resulting in a substantial loss of over $9,660 due to my sizable position. However, a subsequent trade of similar magnitude managed to recoup almost all the losses, leaving a day trade loss of -$1,516 from $CLSK. (Took away 19% of the last two days intraday realised profits, but still overall daily portfolio up almost 5 digits due to $Palantir(PLTR.US$ and $NVIDIA(NVDA.US$ daily surged substantially).
This episode underscores the importance of strategic decision-making during intraday trading. While fortunate to recover, it serves as a reminder that not every trade will yield favorable outcomes.
In hindsight, I should not delete my original entry at $15.10 rather than succumbing to FOMO trap moves and entered at $16.25. Stick to original order level could have potentially resulted in a substantial profit within a single day instead of many trades to recover my initial big intraday loss, not to mention the transaction fees incurred in a day will add up.
All the mining stocks are about blast off. Be extremely mindful of huge intraday traps. This kind of stocks require intelligent tactical trading, not just the technical. It's extremely dangerous to swing trade. Only those who have keen observation and experience able trade it safely. If you have never day trade, then you should not even start day or swing these kinds of stocks. Mining stocks in general move bigger than Bitcoin itself.
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EnjoyTheProcess : Thanks for sharing. I appreciate these type of market "battlefield" experience sharing, and I always try to learn something from it.
Sharkintown : Agree with your point. This stock is not for swing trading. How do you advise on trading this stock in that case? Because it swings more than 15% within a day. It can up 10% at market open but will close 10% down