Had been watching the daily pullback on this IPO. Popped in the morning and formed a nice flag. Entered when I thought it was breaking top of range. Had a couple more volatile candles. Stop in my head was 28.90, but I exited when I thought it had decided to roll over. Looked back a few candles later and tried to re-enter as I saw it was very tight and had not failed, but it took off before I could get the order in. Lesson is that I should have stuck to my original stop. Saved a potential $33 loss, and gave up a potential $750 gain.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-09-30 10:39:50 | CYBR | buy | $29.200 | long |
2014-09-30 10:39:58 | CYBR | buy | $29.200 | long |
2014-09-30 10:40:10 | CYBR | buy | $29.200 | long |
2014-09-30 10:49:33 | CYBR | sell | $29.010 | long |
2014-09-30 10:49:33 | CYBR | sell | $28.960 | long |
2014-09-30 10:49:33 | CYBR | sell | $28.960 | 0 |
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We both got caught. I think when candles get real, real tight, we need to get in with a tight stop as it will move very soon in one direction or the other so we will know if we are wrong fast.