Keeping your emotions in check and your options open

Good Day all, I wanted to take a moment today to give you an example of keeping your emotions in check and your options open. Under normal circumstances most stocks that gap up or down at open fill that gap often during the first hour of trading. Trading solely on alerts or newsletters from promoters often lock you in during the volatile times and we risk getting wrapped up in the emotions we go through when we see our stock choice gapping up or down so quickly. For example yesterday MDCE gapped up 111% at the open after the promoter promoting it announced days prior that the ticker announcement would be after the opening bell to avoid such a gap. That open was at best fishy and a total trap.

 7 minutes after the big ticker announcement the stock plummeted down 35% from its open and then 4 minutes later it was down another 53% and ended up closing up 35%. A huge trap for those less than savvy traders, as most seeing the initial gap up would think OMG I have to get on this train before it leaves the station and then would have lost their butts in this classic Gap and Trap farce. This stock never was even close to the 50 day moving avg, so I would have never gotten in this one.

This is why unless I have my position prior to open I never ever get in during that first hour as this stock never recovered to its high of the day (HOD) and if id tried to get in after open unless I was shorting the stock I would have lost my butt.

So keep your emotions in check and be patient. If you miss out on this one there is always the next one.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.