Shared by
cyZ
A C late to exhaustion
Best entry: 82.40 ORB
I caught a bounce SE 81.66 off 80.33, this was a middling level, also distant from MA, which increases risk. Waiting for closer to 82.40 would have offered much better RR. Thought about adding in that area, but my poor entry left me very nervous.
Spooked out 80.19, couldn't hold for my 79.55 resting bid, a YS area. There was no reason to exit before my resting bid, there was heavy volume on the down move.
Trail stop hit 80.55 on pop to 80.59
Internal chatter: PL focused, fear of losing unrealized P, wanting to make up for first trade loss today and Y loss.
Risk manager: holding to T1 is important for RR, especially since there was no other reason to exit. The downtrend was clean on heavy volume.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-08-19 10:12:22 | BITA | sell | $81.660 | short |
| 2014-08-19 10:37:10 | BITA | buy | $80.190 | short |
| 2014-08-19 10:50:41 | BITA | buy | $80.550 | 0 |
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