My Lesson for the Week $RKDA

By August 12, 2019 My Journey

 Hey there, it’s Tessa

Thank you for reading this weeks blog post. Today I am discussing a very important lesson that I had to face. I think this is one that a lot of us have to learn to master. What is it?…. Patience. How many of you were able to watch or heard about $RKDA (Arcadia Biosciences Inc.) Well, I was watching this stock ALLLLLL premarket on Friday, 8-09-19. Spiked beautifully in the morning, and if any of my experience is worth while, I knew this stock would be a dip buy (I have noticed that premarket spikes usually dip at market open). So, I attempted my dip buy.

Here are my notes:
8-9-19
RKDA – NASDAQ – Basic – news is USDA approval on drought tolerant Soybeans. And partnership with Legacy Venture Hawaii a couple days ago. 
Up 71.14% almost a breakout if gets above $3.50 at $3.45. high of day is $3.50 and low of $2.40. If it breaks out I may buy. Resistance at $3.50 and $5 and support around $2.
Volume 2.2m  FLOAT 6.12m mkt cap 21.31m SSS (sykes sliding scale) 85
 $RKDA In on a dip at 100 at $2.83 9:42am EST
Out at $3.05 at 9:43am … too quick for me.
(SHOULD’VE WAITED 30 MINUTES AS $RKDA SPIKED TO NEW HIGHS AT $4.75 UP OVER 132%) volume 38m  mkt cap 28.2m  float 6.12
I was early and then I took what I originally thought as “the meat of the move”. I was totally right on the setup, but off on the timing. What I needed to do was wait. Although I thought I had dipped in at the bottom, I should have waited to see a slight increase and perhaps some consolidation or uptick before I locked in my paper buy order. 
I was thankful for my profit, I wasn’t complaining, but I had to reconsider my position, timing, what I did correctly, what I did that made it incorrect, how can I be more disciplined and stick to my plan, and reevaluate what I had learned from Timothy Sykes. All I could think about was how I could have traded this better. I considered the setup of this stock again and took the notes below; I was prepping to determine if $RKDA was an acceptable weekend hold:
Watchlist:
$RKDA – nasdaq – Basic – had morning panic dip buy around 10am. Positive news of drought tolerant soybeans. Holding near middle at $4.20-30s. Going to try to hold. resistance around $4.75. Looking for Monday gap up. Could panic like today did. But this is first pretty solid Green Day. Although history of both red and green after first solid green days. Taking a smaller position as I get nervous holding over the weekend. 
8-9-19 In AT  $RKDA $4.11 AT 1:05PM EST 50 SHARES HOLD OVERNIGHt and sell instantly if panics. Hold for at least $.20 if it goes up. (Have to turn off laptop as I am taking my child and going with my grandpa to Jubilee Swap meet)

I DID IT!! A bit of redemption.. I learned my lesson and stuck closely to my plan. When I woke up this morning this stock was at $6.20.. My eyes weren’t quite adjusted as I rolled over and turned on my laptop. I had to refer back to my notes to see if I lost any money yet. As I couldn’t remember what my entry price was, I saw $4.11. No way. The numbers from Sykes Sliding Scale worked. 85 was what I ended up rating it as and I couldn’t be happier. Had my account size been bigger… I was thinking an investment of 1500 shares, this would have been almost a $4,000 morning. I am proud.
The stock was up and by the time the bell rang to begin the morning, it was dropping. Down to $5.95 and I hesitated. Should I sell? Don’t be greedy. But history proved that it dips in the morning and then spikes. I set my new mental stop loss as I adjusted to this price. It went back to green as I was about to commit to my exit. I ended up remembering Tim Sykes tweeting me about Friday’s trade being a “Good Lesson”. I held my patience a bit longer. I took profits at $6.61. I wasn’t going to be anymore greedy than what I already allowed. Here were this mornings notes:

8-12-19
$RKDA positive news of it USDA approval. 8:55am EST volume 1.7 float 6.12 mkt cap 39m shares 6.27m up39%
Low $4.82 and high $6.43 currently $6.20
Wanted to sell premarket at $6.20 but practicing holding until market open.
I plan to take profits at market open as my schedule is poor today. I will be happy with $2 gain. Don’t need to be greedy. Volume increased to 2.06m 9:16am EST now now $6.15
$RKDA will probably dip and raise to new highs today.
9:25am EST $RKDA volume now 2.16m  current price $6.20
9:33 sell 50 shares at $6.61 OUT

Volume now 4+m at 9:35am Est  mkt cap 42+m up 46% now volume 5+m 9:41am EST with resistance now around $6.60 and support around $6.09  n0w $6.70s 9:42am EST.

 Now I have it on tonights watchlist but I have no positions over night. I want to watch. I need to let this great trade settle. This would have been a $4,000 trade almost if I had 1500 shares (I increase my share size and calculate potential profits as positive reinforcement and motivation for my success towards becoming self sufficient. It is how I boost my trading confidence).

Patience had paid. My lesson was acknowledged. I was rewarded for such efforts. By reviewing, studying, rereading The Complete Penny Stock Course, and blogging, I have been able to focus on better trading setups and apply what I need to focus on (having StocksToTrade has had just as much impact on me as I get hands on trading experience for my knowledge account).

As much as I am impatient and want to make profits within the first 30 minutes to an hour, patients pays. Always have a trading plan in case the trade doesn’t go in your favor and follow rule #1 Cut Losses Quickly. But when a trade is on your side, it can help to Take Profits Intelligently by Taking The Meat Of The Move and Not Getting Greedy!

As always, I hope you enjoyed this small recap of my most successful trade this week and hopefully it has helped you. Patience and Planning are Key! To get better knowledge and insight, Use
( https://bit.ly/3a8T4Ki ) to choose your level of dedication  or Sign up for TimAlerts
( https://bit.ly/2NpLNvS ) Chatroom on Profit.ly! AND Don’t forget to subscribe to my blog, you make need to check your spam box and leave comments. I want to know how you felt about $RKDA! 
See you next week. 


                             Hello there, My Name is Tessa Lamping and 
                                    thank you for reading my blog!


I want to provide a short disclaimer:


I am in NO way a professional nor do I claim to be. I do not manage anyones money nor do I want you to follow my trades. My posts are solely for entertainment purposes and for myself to become more transparent on my trading journey. I use these posts to track my own progress. I do NOT recommend you try my strategy or jump into trading without a verified guru/teacher. I am an untrained trader who has been practicing for 1 month and a few days with paper trading on StocksToTrade. I am up +$500 for the month of July and 1 day of June. By the time you read this I may or may not have traded the stocks I post about. I will not guarantee you will profit from trading as 90% of traders lose. To become consistently profitable is not a typical result. I am in NO way responsible or liable for your decisions or actions as a trader. I, again, am not professional so there will be grammar and spelling errors. Just because I suggest something does not mean your results will be the same as mine if you try. My suggestions are what I am doing, have tried, and what may have or may have not worked for me. 

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