Buy 1940 NCP @ 15.35

Decided to try a day trade after the NCP market opened aggressively down to 15.27 then moved up smartly to 15.38. Placed a buy order in for 1700 at 15.33 and amended it up for price and quantity.

An hour later it’s down to 15.31 and looked bad. But it picked up and spent most of the afternoon at around 15.39 (breakeven).

Suddenly at 2:45 it moved fast to peak at 15.48 then falling straight back to 15.39. Then it did it again! Why didn’t I place a sell in at 15.45?

I’ve noticed NCP trades in a 0.20 range. Lesson #1 if I buy at 0.10 above the low then I should sell at 0.20 above the low for day trades.

Lesson #2 keep a clear exit strategy when I buy.

Psychology of the Deal

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