RogueTrader11
Short

Welp.......I lost on this one.

AMEX:FTNW   FTE NETWORKS INC
One thing I haven't done yet is post a loss. I noticed this one during pre-market. I saw that it was up, and I thought the momentum would continue. One thing I learned today is if a stock is up over $2.00 in the pre-market, there could be a massive dip coming in (in terms of penny stocks are concerned). I also learned that normally these type of stocks will reveal it's ultimate direction 10-20 minutes after the open. I did not have an indicator that the momentum would continue, but I was too confident (I was riding a 85 percent win rate lol). I held, and held, and held, then I realized this is going down, so I got out at $3.30. I took a loss, but I learned. I also need to cut my losses quicker. I am still picking apart what I am thinking when I jump into these plays. I notice, that when I am wrong on a play, I tend to be in denial. I tend to think "no......it will turn around." 10 times out of 10 it won't. Cut losses quickly, especially in this market. Good luck out there guys. I am out for the day, because I don't want to chase and end up losing more money. See you guys tomorrow.
Thank you for sharing your experience!
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RogueTrader11 ngulomov97
@ngulomov97, No problem. :)
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