Long VIOT @.8976 (oversold)
Updated
Will hold until profitable and overbought.
My indicator and exit strategy are 26-0 on VIOT in the last 12 months (though this is the first time I've actually traded it). I generally don't trade <$1 stocks bc they're a hassle to trade bc my broker won't do market orders on stocks <$1, but I made an exception this time and got a limit order filled after hours at just above the regular session closing price - here's why I made an exception...
-The average gain on those 26 wins is 8.6% and the median is 7.7%.
-10 of the 26 wins have been double digit gainers.
-Using equal dollar trades each time, that would have been an approximately 222% gain over 12 months on a stock that is down 3% in those same 12 months.
-The longest a lot would have been held is for 2 months and most trades are 1-2 week trades during that time period.
A reminder: these are simply posts about my trading NOT investment advice. Just because I'm trading it doesn't mean it's a good idea for you to. Particularly because this stock is pretty illiquid, only trading about 100k shares a day. That in itself carries risk. So trade it or any of my ideas at your own risk.
My indicator and exit strategy are 26-0 on VIOT in the last 12 months (though this is the first time I've actually traded it). I generally don't trade <$1 stocks bc they're a hassle to trade bc my broker won't do market orders on stocks <$1, but I made an exception this time and got a limit order filled after hours at just above the regular session closing price - here's why I made an exception...
-The average gain on those 26 wins is 8.6% and the median is 7.7%.
-10 of the 26 wins have been double digit gainers.
-Using equal dollar trades each time, that would have been an approximately 222% gain over 12 months on a stock that is down 3% in those same 12 months.
-The longest a lot would have been held is for 2 months and most trades are 1-2 week trades during that time period.
A reminder: these are simply posts about my trading NOT investment advice. Just because I'm trading it doesn't mean it's a good idea for you to. Particularly because this stock is pretty illiquid, only trading about 100k shares a day. That in itself carries risk. So trade it or any of my ideas at your own risk.
Comment
Still oversold. Added 1 lot at .8801 this morning bc I couldn't get a fill on the order yesterday. That's a risk of illiquid stocks - not getting fills. This sometimes forces lost profit when trying to close out a position and you have to take a lousy bid to exit or risk not getting out at all. Also makes it hard to enter a position, but getting out is the much bigger problem. But when average profits on the trade are 8% it leaves room for that slippage and still have the opportunity to make money.Comment
Added another lot @.8724 at the close today.Comment
Oops. I added this as a comment yesterday instead of an update at the close of trading."Just added another lot at .8509 because it's still oversold."
Comment
Still oversold. Added at the close at .8310Comment
Overbought now and all 4 lots are profitable, so I just closed out my entire position at .9492 bc I didn't want to scramble at the close.Record is now 30-0 on this ticker.
These four lots gained 5.4%, 8.1%, 10.4% and 12.5% respectively.in 6 trading days.
Comment
Trade results (for my records)
Wins 5 Losses 0
+5.4% in 6 days
+7.9% in 5 days
+8.8% in 4 days
+11.6% in 3 days
+14.2% in 2 days
Average gain = +9.6%
Avg hold period = 4 days
Per lot per day held annualized return = +605%
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