Today I traded stock symbol INBS, on the back of positive news, rallying up at market open.

Full trade summary video:

My long positing entry logic:

The price set a high 4 days ago at 3.85 and as the share traded around 4:50 within one minute of market open at from 4.15. Within 4 mins of market open, the stock recorded a new high of 4.90.

First long entry:

I decided to take a position at 4.54 aiming for a break through day high 4.90.
However, this didn’t materialise so I exited the position at $0.04 loss per share.

Second long position at 4.26:

The stock retraced and as it seemed to find some support, I entered a long position.

Second exit:

I did not exit as price touched 4.90 and decided to hold.
The price broke the 4.90 high and reached 5.59 for a split second.
I hit market exit at 5.40 (not a limit order) and I was liking the execution was superfast and I managed to lock in $1.14 per share

Third entry:

I took another long position at 4.82 as the stock retraced back from highs for 5.59

Third exit:

I exited at 5.00 as the price started showing some weakness

Total day trading profit:

Trade 1 – $1.14 per share
Trade 2 – $0.18 per share

Days profit $1.32 minus $0.04 = $1.28 per share

Learnings:

• Find support and resistance on daily chart and trade around them
• Continue using market order when spiking up and reaching day highs
• Or place limit order 8/10 cents below target resistance as a backup (unless big sell order, then best not to show position size)

Hope you find the trade summary useful.

See in the next trade!