Daily Recap: Testing a New Strategy with Decent Results
Today, I experimented with a new strategy recommended by _capitalhilltrading on Threads. This approach requires more patience and focuses on the 15-minute chart to find optimal setups. I was able to find some success, winning one of my two trades and ending the day with a profit of $46.15, bringing my account balance up to $912.64. Here’s how the trades went down.
First Trade: GNLN
GNLN was my first trade of the day, continuing its momentum from yesterday. I entered the trade at $9.79, setting a 40-cent stop loss at $9.39. Although the volume dipped slightly around my entry, the stock started to move upward soon after. With GNLN’s low float of around 500k, I felt confident in giving it some breathing room. As the price climbed, I adjusted my stop loss to lock in profits, eventually moving it to a 4:1 risk-reward ratio. I was stopped out at $11.35, securing a solid profit of $62.38. This was a great win, exceeding my usual target of a 2:1 risk-reward ratio.
Second Trade: APPS
My second trade on APPS didn’t go as planned. The stock had no news to support its early ramp-up, and the volume just wasn’t there to sustain the movement. I entered at $3.33, but the trade fizzled out, and I got stopped out at $3.20 for a loss of $16.28. Reflecting on this trade, I realized that my risk-reward ratio was off; even a 1:1 ratio would have required the price to surpass the day’s high, which was an unrealistic expectation given the circumstances.
Overall Reflection
Today was a positive experience with this new strategy. The slower pace and defined entry points are a refreshing change, though I need to be more mindful of volume to avoid getting stuck in slow-moving stocks. I plan to continue using this strategy for the rest of the week to see if it can improve my overall consistency. While there’s still much to learn, today’s results give me hope that I’m on the right track.