Shared by
MdB_BoWS
I'm really really pissed about this trade:
- I messed up the short order but making it a stop order, the amount I had set was 7.23 and it filled me at 7.16
- re-shorted some more at 7.26 which took 2,5 minutes to fill
- headed out to lunch downstairs at the cafeteria with my laptop, missed gap downs all over the place while getting food and setting up.
- Once it started gaining momentum again at 6.95 I bought to cover with the 'liquidate all short positions' button, this is a market order and I knew that. Yet for some reason it filled me at 7.07 and 7.08 vs. 6.95 or 6.96.
lesson learned, don't do market orders anymore in this situation.
Had it covered at 6.95 I would've ended up green, day ended red unfortunately.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-07-11 13:33:57 | DGLY | sell | $7.160 | short |
| 2014-07-11 13:59:00 | DGLY | sell | $7.260 | short |
| 2014-07-11 14:35:35 | DGLY | buy | $7.070 | short |
| 2014-07-11 14:35:35 | DGLY | buy | $7.080 | 0 |
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Only use market orders if a stock is trading 20 million plus shares in a day. If a stock is not trading very liquid within that day, use a limit order.