Shared by
tombro
Another trade I shoulda avoided. In my head I was thinking pullback, but it's still too far from MA's and the market had only been open 451 seconds. Besides that, my head wasn't thinking clearly anyway because I had stayed up all night on a work project due today.
Maybe that accounts for entering it in the first place and with TOO MUCH SIZE.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-11-07 09:37:31 | KING | buy | $13.980 | long |
| 2014-11-07 09:41:17 | KING | sell | $13.750 | 0 |
Comments
tombro
I was just going for the pullback. I had another realization tonight. On the open, I 'm excited, and it causes me to do things like chase, imagine setups (that we were never taught) or get in too late or early (like in this case)
Later in the day, I'll be calm (borderline bored) scanning for stocks, then, when I find something, I will also get excited, but will be much more calculated in my entry and exits. It would probably behoove me to wake up an extra hour earlier and trade my TOS OnDemand backtrading module for even 30 minutes to just to get my mind working, But I live in Los Angeles, and it's hard enough getting up as it is.
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Looks like you were going for the ORB. Good cover when second candle failed like it did below the VWAP. I know Kunal loves those trades. It's often a craps shoot for me when I try that.
Btw -- I do like how you measure the market open in seconds :)