How I made $1800 in the gutter

As I posted yesterday, I was holding my UVSE position overnight after its strong move.

There was a rumor that there would be news this morning, and sure enough, we got it. The company reported that it was taking care of its debt. While that's a good thing, they also reported they would be increasing the authorized shares in the future...meaning more potential dilution. That's not a good thing.

UVSE opened strong, and broke 3.5 cents. However, the breakout didn't last. It came back below 3.5 cents. I sold 100,000 shares at 3.31 cents for over a $1100 profit.

I held the rest to see what the stock would do. I decided I would hold it as long as it stayed green for the day. However, it then dipped to 3 cents and went red. I put in an order to sell the rest of my position. However, the stock was moving too fast. I changed my limit to 2.9 cents. Still no execution. I finally lowered my limit to 2.7 cents where I got out at 2.72 cents for a $660 profit.

It's a good thing I got out, because there was massive panic selling, and the stock tanked all the way to 1.8 cents before bouncing. It's hovering now around 2 cents as I write this.



Overall, this was a solid trade for me with a lot of positives:

1. I had a solid entry into the trade, with most of my position at 2 cents and some more at the 2.5 cent break.
2. Learning from my last mistake on UVSE, I knew to take at least partial profits when the 3.5 cent break failed. I also knew to take the rest of my profits as soon as it went red on the day. Looking back, I probably should've just sold my entire position when it failed to break 3.5 cents (which is what I had planned to do yesterday), but hindsight is 20/20. Regardless, I still made an outstanding profit.
3. I did not waste any day trades
4. I now have 3 winning trades in a row
5. I'm only averaging 1.2 trades per day since June 30th, meaning I'm not overtrading

I may have left money on the table with this one by selling part of my position a bit too late, but you have to remember that you're very rarely going to be perfect in this game. It's almost impossible to pick the highs and lows. You just need to have a solid entry and exit strategy, and stick with it. There's always going to be times where you leave money on the table.

GUTTER ACCOUNT STATS:

June 30th: $4856.64

Today: $6352.95

Gain since June 30th: $1496.31, or 30.8%

Positions traded for a gain:

UVSE: $1172.40

UVSE: $660.49