I entered with clear r/r (risking $5 lvl). I was up on the trade and was getting greedy. I wanted a bigger massive spike and ofc the stock turns on me and treading where I am breakeven. This then led to me holding and hoping....hoping it turns and spikes again to where it had spike 2.60 area. It felt like forever holding on. The turn in price returned towards the 2.50 area and I had the chance before that to have my sell order pending, but despite the stock proving me wrong I was still being greedy. I have a good gain, but greediness got the best of me. I guess because I had let a lot of stocks keep running after selling I thought this might be the one, but of course playing low-floats is a dangerous to play. That is why it's best to get in and out on these plays and just take your single. A great lesson to learn from this trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-05-29 09:41:31 | PHIO | buy | $5.270 | long |
2020-05-29 10:02:19 | PHIO | sell | $4.720 | 0 |
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