Shared by
EliBrown
I chased my entry on this one. I went short at 11.77 with 166 shares. I should have entered closer to the 9 EMA for a better reward to risk. I scaled out 50 shares at 11.40 but should have unloaded the rest as the stock didn't break down and made a higher low. Instead, I waited way to long and exited at resistance at 12.03. Poor trade management.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-02-27 10:40:33 | WTW | sell | $11.770 | short |
| 2015-02-27 10:57:58 | WTW | buy | $11.400 | short |
| 2015-02-27 12:32:43 | WTW | buy | $12.030 | 0 |
Comments
EliBrown
Thanks for the feedback man. I got a bit of FOMO on this one but I have to start passing on trades when the ideal entry has been missed.
Driver42_BOWS
I agree with LHardesty. If you have chased the price you need to be sure of the setup. Also if you take partial profit be wary of letting the stock come back past your entry too much as you lose all of your profit
kunal00
haaaaaa thanks lawrence
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Yessir, you chased a bit as you already know. We all do it (especially Kunal... whew!!! ;)))
But maybe this is helpful... you have to be able to name your entries. For example, this one was a quick pullback buy (short). My biggest losses this past year have always been because "I Just knew". I didn't. Name the entry and abide by the rules you have for that entry. Then, you'll never (rarely) chase.