Bear flag forming so I entered a short position within the set up. The stock squeezed upwards but I knew that it would need a lot of volume to reach it highs and change direction. So I borrowed more shares inside the set up. The stock broke down and I covered too early twice, and I was out of the trade. Shorted some more shares and during another break down and exited too early again, and didn't leave any shares in the position. I had no real reason to get out of this trade and I should've let the trade play out. Since I was down in my P/L I wasn't mentally focused 100% on trading my positions right. I was concerned on getting back to even, which was a mistake.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-10-17 10:15:58 | SDRL | sell | $23.900 | short |
2014-10-17 10:19:13 | SDRL | sell | $24.040 | short |
2014-10-17 10:48:19 | SDRL | buy | $23.870 | short |
2014-10-17 10:48:59 | SDRL | buy | $23.840 | 0 |
2014-10-17 10:54:48 | SDRL | sell | $23.780 | short |
2014-10-17 11:56:24 | SDRL | buy | $23.670 | 0 |
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