thought I caught a bounce and the stock was about to rebound. bit of a revenge trade too since I had lost the prior 2 times that I traded this stock today. made a slight profit, but started to reverse to got out. wondering how to keep from revenge trading.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-07-28 14:48:01 | MOVE | buy | $15.220 | long |
2014-07-28 14:56:12 | MOVE | sell | $15.260 | 0 |
Revenge trading is taking a trade to make your money back and not because there's a setup. If you're worried about revenge trading, i'd recommend taking an extra second with a stock you've already lost on to really focus on the pattern that has formed. A bounce against you doesn't count as a pattern. ( i know this because i've done the same thing.) Sometimes it also helps to decide, when you enter a position, if that position would be potentially reversable if it goes against you.
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MOVE on!! LOL