Friday+today

 (Friday)Tried to dipbuy CURLF today , didn't work. Thought 9.27 would hold, bought 9.3. sold 9.25, small position, small loss. Tried buying it at support at 9.05, only went as low at 9.1 then jumped to 9.3 so my theory on the play was correct on holding the 9.04 support but didn't quite reach my buy entry before jumping up .

Account is in a loss of 35 dollars currently. Today isn't looking to nice on the market withthe dow being down 330 points and a lot of hot stocks looking negative from what i can see. Might wrap it up for the week, and try again next week.

Wednesday: tried buying aveo for a break out at .653 cents sold half the position at .65 bought a bit more than I sold at .613 and sold all at .65 cents for a 2 dollar gain after all commissions. Went to 1 dollar sadly.

Bought amrn at 17.6 to sell in minutes at 18.35 for a profit of 140$after commission.

Account Is positive 105$american :) lesson from the past I have learned is every good trade led to an impuslive trade that would lose money so wrapped it up at 1230 today. Let's see what the rest of the week brings! 

start to the 4th day trading

Posting on day 4, I old my remaining SHMP stock at .284 cents for a profit of $80.25 USD. This left me with a profit of $53 after commission and prior $2 lose was added. I upgrade my questrade account so i can have lower cost commission. $4.95 will be my cost per trade now.

Today, I purchased SRNE at 5.41 after watching it go up to 5.70 and go back down. I sold my shares at 5.65 on average. This trade was my own idea, and I bet on the momentum of the stock during the morning spike. I sold way to early as it went all the way to $6.50. It now is at 5.30 which isnt too high above opening, maybe 20 cents gain. A lesson to be learned here with morning spikers. 

This gave me a profit of $35 after commission, pretty much nothing but it was my own trade and that made me happy. 

This led me to my mistake after tim made a buy at 28cents for IGNG and I chased it, got in at 28.9 cents and took a loss after he got out at 30 cents and it tanked to 26.5 cents before jumping back up to take my ask out. that was a 100 loss after comission. 

I now sit at a 12 dollar loss. Whos the real winner so far? Questrade. I think im in the wrong business.

Lets see if any end of the day trades come to make that 12 dollars back! lessons learnt! Don't chase stocks. Don't sell something when the momentum is in full throttle going in youre direction! 

My start to day trading

Yesterday, I had decided to join Tim Sykes chat group for the second time in my life (4 years later), so I can witness his trades live (a minute or two delay). I decided I will be posting about each trade I make and the results I have over the next month while I decide if I should continue this or not bother after the first month of the subscription. Today was my first purchase buying 15k shares of SHMP after Tims alert. I got in at .273 while tim got in at .274. He sold at .28 but by the time the alert came out, I couldn't get the same price which really sucks as the top price it sold well I help it would have been $230USD which would have been nice since I am Canadian! I watched the stock go from 26.5-28.1 range but since the stock is on the OTCPK, Its a bit more difficult to sell out of a position someitmes. I managed to sell 7500 shares today and couldn't get rid of the other 7500. Tim picked up some more shares at .255 and is holding over night, which I am stuck doing as well, but I would much rather a .255 entry! Overall, second day with first trade is a loss of 21.95 USD, mostly from the commission Lets see how this plays out tomorrow, wish me luck!

Cannabis goes legals in days, here's what you can expect for pricing

We are officially 5 short days away from the legalization of marijuana! It makes me proud to be a Canadian, we will officially be the biggest country to legalize cannabis. This all sounds great right? There is one big challenge I see though, and that is the price of legal weed to the consumer.

Up above is the pricing per gram, for different quality. It almost looks good until you read that it says wholesale pricing. What this means is that the store you go to will be purchasing it at this price. In order for a store to afford its rent, employee costs and other bills, they will need to sell at a minimum pricing of $8 per gram for the lowest quality and premium will be starting at $15 at the least. At these numbers, it will be very hard for a business to be competitive to the black market but this will only be for a short period of time as my belief is that the government will increase the amount of legal producers to increase supply and lower cost. As more consumers go to legal stores as the price falls, the black market price will continue to fall as well due to supply/demand fundamentals. This will start to cause the black market to shrink as more growers will go out of business due to higher risks, and lower profitability. It will take time for this to happen, but the day where legal weed at a fair pricing will come. 

I would urge you all to message the provincial government to request them to work on lowering the price of legal weed. You can email them here: servicebc@gov.bc.ca

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