Shared by
J_Matrix
Problem:
Starting short early trying to anticipate a triple top on $AAPL on the daily at 223.75
Essentially 'trying to pick the top' and it burnt me as I got fancy and try to scale in counter trend.
Solution:
While the idea was very valid, fading is still not as much as an edge play for me as shown from statistics and my prior experience. If I MUST fade, don't add until the stock actually CONFIRMS THE BACK SIDE.
$AAPL had a significant catalyst today with an analyst upgrade from a tier 1 firm JPM.
I saw buyers holding up the 223.85 on the tape and that level was tested multiple times on the day.
I also saw a spoof order on the offer at 224.25 where the seller suddenly disappeared and never came back. This alone should been more than enough reason for me to switch bias.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-09-30 12:01:17 | AAPL | sell | $223.350 | short |
| 2019-09-30 12:16:46 | AAPL | sell | $223.530 | short |
| 2019-09-30 12:23:25 | AAPL | sell | $223.680 | short |
| 2019-09-30 12:30:08 | AAPL | sell | $223.950 | short |
| 2019-09-30 12:31:27 | AAPL | buy | $224.060 | short |
| 2019-09-30 12:32:52 | AAPL | sell | $224.000 | short |
| 2019-09-30 12:41:52 | AAPL | buy | $224.080 | 0 |
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