이 거래, 운이었을까? 아니면 논리적인 선택이었을까? 🤔

I’m brand new to trading. Not even paper trading yet, I’ve just been reading books and online resources and watching the market for the first 1-2 hours of open each day to see how stocks move and think about what I would do.

Yesterday I identified this stock BIYA which had a huge gap up pre-market, high relative volume, float under a million, and a news catalyst. It seems like an incredibly sketchy stock to hold for any substantial amount of time but it seemed viable to trade on a time frame of under an hour or two.

I watched it on the 1 and 5 minute charts at open. First 1 minute candlestick was red, second was green with a long lower wick beneath it, and third candlestick was green again. This is the point I would have bought in - right when the 3rd candlestick closed green, because it seemed like an upward breakout from the opening range. Ideally I’d enter at 1.41 but likely a few cents higher due to slippage. In the moment, my thinking was I would have set my stop to 1.34, the open of the first candlestick. (But now looking back, perhaps the CLOSE of the first candlestick would have been better - there’s more risk but more room for the price to breath.)

But at a stop of 1.34, my risk would have been 7 to 10 cents per share (let’s say 10 cents a share). My goal is 2:1 reward:risk so I would aim to take profit at or above 1.61. I would have watched the chart and slowly moved my stop out up - first to break even, then maybe to 1:1 R:R, and finally 2:1 R:R where I would have eventually been stopped out. This would have been a profitable trade. In fact it would have even been profitable if I went for 3:1 R:R and took profit at 30 cents a share.

Now I’m wondering a few things:

1) was this a good set up or did I just get lucky?

2) Is 2:1 R:R a good profit target for a trade like this or would higher often be better?

3) What would be the best stop to set in this trade?

4) any general criticism or comments on my thought process or set up would be greatly appreciated.

Thank you!