I’m a devoted swing trader and penny stocks are my bread and butter.
And I love to enter positions on hot stocks that have the potential to gap up over a short period of time. Most of the time, I’m not aiming for the moon, I’m looking to take out a 5-20% gain and then rinse and repeat.
Consistency is the game here.
I’ve been in this game for over a decade and one thing I can tell you (which you probably know by now) is…
The market doesn’t care about your feelings or what you want.
Here’s a clear example with BJDX…
This stock is among the top 5 in the list of 70 penny stocks I stalk for swings.
Bluejay Diagnostics, Inc. (BJDX) operates as a diagnostic company. It develops and markets minimally-invasive Point-of-Care diagnostics tests and devices that provide patients and providers with access to affordable and timely healthcare.
After I did my homework with fundamentals and technical indicators (I’ll spare you the details), I made an entry on Friday afternoon (March 18) at $1.19.
I was hoping everything would go well for a 20+% gain over the weekend from my entry.
I liked how the stuff was BJDX was building up nicely here and my target was an exit immediately it hit the $1.50+ zone.
As usual, the market always changes…and sharp traders have to adjust plans to adapt.
That’s why I was in my Live chat room (JasonBond Picks) letting hundreds of folks in on my plan…minutes before I took action on this trade.
Before I bought the stock, I sent out a notification:
On Monday while I was still in position, I sent another notice that I’d hold overnight:
Well, the bad news is I didn’t hit my 20+% target and a $1.50 exit was not possible.
The good news though, is that I was up over 10% on the BJDX swing, and I made an exit on Thursday, March 24 at $1.30.
And the best part for anyone paying attention to me, I sent a pre-alert before my EXIT too.
Before I sold:
This is something I recently started doing because, from my experience, timing is something most people struggle with.
It’s one thing to make a good entry, but if you don’t adjust and exit a trade at the right time…you might just keep holding on as the market flips on you…and you end up playing the hope game with a losing stock (which is a spot no trader likes being in).
The key takeaway here is timing your exits are as important as your entry. Plus…keeping your emotions in check and adjusting your goals can make all the difference.
After all, your goal is to be profitable, not “correct”.
