LOSS

• Setup: -------------------------------------------------------------------- HOD Break
• Entry: --------------------------------------------------------------------- $4.61
• Shares: ------------------------------------------------------------------- 1000
• Stop: ---------------------------------------------------------------------- $4.50
• T1: ------------------------------------------------------------------------- $4.82
• T2: ------------------------------------------------------------------------- $5.00
• Reward:Risk Ratio (T1): -------------------------------------------- 2:1
• Exit: ----------------------------------------------------------------------- $4.50

• Profit/(Loss) With Commission: -------------------------------- ($124.77)

• Details:
  Intraday HOD break, 1000 shares. I timed this one wrong. Looking at the daily the true breakout was at $4.40 but I missed it in the chat room and only noticed the intraday HOD break. The reason this failed is most likely because it had a big pop from the original breakout spot, but no retest before breaking out again. Since I attempted to play it with no retest, the stock fell back to $4.40ish before bouncing and then broke out on the second tap of the level I bought at.
  There were a couple things I could have done: 1. wait for the bounce and buy on that. 2. Buy at the higher breakout spot ($4.60) but size my position so I could afford to have a stop under the lower breakout. From a risk/reward perspective though, the last option is a gamble and it would have been better to just buy on the original breakout or sit on my hands and admit that I missed this trade.