Breakout Play 5: $NOW

This is how it looked like when I bought it. My exit price/trailing stop is the 0.236 Fibonacci retracement level. Everytime it hits a new high, I would simply move the end of the Fibonacci retracement to the new high.

And this is how it looked like when I sold it. I immediately sold the moment it dropped below the 0.236 Fibonacci retracement level. I sold around 12 because the price action was too fast. It's a hell of a drop, I can say.

Remarks...

January and February were the month of telcos. Many have said it was a gold rush. Ms. Market was very generous at that time, giving free money to newbies and pros alike. But I wouldn't call it a gold rush or any positive label. I call it the open season. It is the time when newbies are about to be slaughtered.

Why? you ask. 

It is because of how they handle their emotions. Most newbies refused to adapt themselves to their environment, instead, they adapted their environment to suit them. The most common thing they do is to create/join support groups. This is especially true when their stock skyrocketed for a few days and then plummets. Some would even create/invent their own indicator from scratch. To me, they are no different from the so called Hype Beast or other gangstah groups. Don't get me wrong, I'm not against Hype Beast or any other groups. My point is, those groups were created by people with emotional problems. Those groups are commonly composed of people with family issues, victims of bullying, failed relationships and other tragic events. The number one reason of joining such groups is the need to escape from the negative emotions caused by those tragic events. 

In the stock market, tragic events are inevitable and if you don't know how to manage them, if you keep on running away from them, then your suffering will be legendary. If you want to be strong, learn how to fight alone. I'm not saying that having a mentor is a bad idea. I think having a mentor is an efficient way of becoming a good trader. But to me, the greatest traders are the ones who made it alone.