RE: New tax year6 Apr 2023 20:00
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Well that was painful, just halved my risk for 88e...
Makes sense, logical...when you suddenly get the jitters..
Felt bad to leave full risk, felt awful selling, considered buying back but that felt wrong too lol..
Looks like the price was being held on the final day before news, ?
Just looked +21M vol last half hour, 2x 3.5m buys too..
first 10 minutes trading all my sell quotes were above buys, which only enticed two sizable looking sells..?
There were 9 market makers trading the share, maybe layer 2 would have helped by seeing the books..
I struggle with understanding why a MM would set the bid above Ask especially when price was dropping,
At 9:20 I got quoted more for the Bid, than the offer again....
Any thoughts ?
After the 1st 10 min, bid prices dropped faster than offers, both taking the price range down...
Yet I cant easily identify enough sell trades to justify the drop, making sells=buys during 1st hour
After that buys clearly exceeded sells, but no significant recovery..
And no big order printed end of day ?
Makes you wonder if they were filling that 12.5m order yesterday, but 87M vol end of today
If it was a buy at 0.6, they need to keep the price down until filled
I guess the early sells would add to that 12.5, taking the total close to 20M ?????? Mmmmm
But some MM initial had high bids ??
So Unless holding, today de-riskers backed against a wall on the the day before the big news....
So the transformational drills need to be in early, almost fully loaded early.
Sell on good highs, risking missing the top, but chancing another low.
Sell the high before the suspected raise, placing price is worked on so many days average, nice clue on the chart..
buying at 0.7, when the peaks turned out to be 0-75-0.8, that was playing the high for 10%, ( what multi-bagger)
De-risking half at a loss, now means I need a bigger gain on news, ........
And if the news is good Monday the MM will gap up, before you can get your money back in.
Last good update the gap up was the bulk on the days gain..
My average 0.63..
So sold half but now thats moved my average up to 0.69p to break even
I could have sold earlier this week at 0.63p, hindsight, would have given to option to buy again later..
But was playing for profit at the time, so just short,
Using my sell price, 0.565p, as the days close I need 22% on news to break even... which is do-able
But have the risk which could have been avoided..
But I was going to bet all, then I was'nt, then I was or was I..
I think maybe layer 2, might be worth a try..
live trades too..
Your at a disadvantage to the traders without,
thats my notes for a poorly executed plan, +100% for the taking, but now hoping to break even,