Shared by
KeithL_BOWS
This was a BIG mistake. I FOMO'ed and jumped in with a terrible entry. I should have gotten out sooner, but stuck with my plan. I really need to jump out of losers faster.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-05-28 10:11:00 | GMCR | sell | $115.240 | short |
| 2014-05-28 10:17:17 | GMCR | buy | $115.600 | 0 |
Comments
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You timed the bottom almost perfectly! Don't feel bad, I do this all the time too, perfect bottom when I enter a short, or perfect top when I enter a long.
But I'm not sure I would have gotten out any faster than you either - I usually wait for it to blow through both MAs before I get out (because so often I get out before then and it goes back my way, with me holding the bag).
I try to get out of any trade I realized I entered too quick (any trade I realize I broke my rules), so if I had realized I broke my rules I might have gotten out earlier. But I'm inconsistent about it, so I probably would have held it even longer than you - some days I'm just stubborn about it (and usually pay for it).