I attempted to shorts on C because I felt it was a market play. I honestly felt the market would not recover that quickly today. I may have had biased here thinking I would be able to watch a short work for me most of the morning. It was in my plan to short this on weakness and follow with a stop behind the MA average.
So, all and all, I stuck to my plan here almost to the letter and probably should not be upset that this was a healthy green for me and then turned against me. I have to ask though when it got to 2 to 1 should I have moved to break even, or when I couldn’t get the price I wanted on half of the position should I have closed it out at market? Maybe the right answer was to put a limit in for the one half lot in advance even though I thought momentum to the downside would be stronger.
I also took a short off 70 resistance. I was patient on the entry with a target at .50 and .15c of risk. Again, the RVR was great. What I really missed here is being behind on how the overall market was trading. This attempt to get and stay over 70 had failed a couple of times and I felt the next move was down.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-05-06 09:46:10 | C | sell | $69.255 | short |
2019-05-06 09:59:23 | C | buy | $69.420 | 0 |
2019-05-06 10:43:42 | C | sell | $69.971 | short |
2019-05-06 10:43:42 | C | sell | $69.980 | short |
2019-05-06 11:08:40 | C | buy | $70.130 | 0 |
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