Entry: Bear flag, looking for short drop to just above magic number of 1.0. Air below (no resistance on any chart). Scaled up a little on small spike when failed to make new high.
Exit: Blew past my stop pretty quick, I scaled out as fast as I could to reduce risk, but the spike happened too fast to catch it. Only thing I can think of that I could have done to reduce the loss would be start with a smaller position size. But this was a normal position size for this play, and this was just one that turned against me too fast to contain the risk without a hard stop loss.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-06-09 10:44:35 | END | sell | $1.080 | short |
2014-06-09 10:44:42 | END | sell | $1.080 | short |
2014-06-09 10:45:03 | END | sell | $1.080 | short |
2014-06-09 10:45:04 | END | sell | $1.080 | short |
2014-06-09 10:45:43 | END | sell | $1.080 | short |
2014-06-09 10:45:43 | END | sell | $1.075 | short |
2014-06-09 10:45:45 | END | sell | $1.076 | short |
2014-06-09 10:45:46 | END | sell | $1.076 | short |
2014-06-09 10:45:46 | END | sell | $1.076 | short |
2014-06-09 10:45:46 | END | sell | $1.076 | short |
2014-06-09 10:45:47 | END | sell | $1.075 | short |
2014-06-09 10:45:48 | END | sell | $1.075 | short |
2014-06-09 10:53:25 | END | sell | $1.100 | short |
2014-06-09 10:53:25 | END | sell | $1.100 | short |
2014-06-09 10:53:25 | END | sell | $1.100 | short |
2014-06-09 10:53:25 | END | sell | $1.100 | short |
2014-06-09 10:53:25 | END | sell | $1.100 | short |
2014-06-09 10:53:25 | END | sell | $1.100 | short |
2014-06-09 10:53:25 | END | sell | $1.100 | short |
2014-06-09 11:01:54 | END | buy | $1.080 | short |
2014-06-09 11:02:39 | END | buy | $1.120 | short |
2014-06-09 11:04:02 | END | buy | $1.150 | short |
2014-06-09 11:04:03 | END | buy | $1.150 | short |
2014-06-09 11:04:03 | END | buy | $1.150 | short |
2014-06-09 11:04:03 | END | buy | $1.150 | short |
2014-06-09 11:04:03 | END | buy | $1.150 | short |
2014-06-09 11:04:03 | END | buy | $1.150 | short |
2014-06-09 11:04:03 | END | buy | $1.150 | short |
2014-06-09 11:04:03 | END | buy | $1.150 | 0 |
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Not a good short entry there as stock has been down for days.