Shared by
youngcb1_BOWS
No setup occurred but I was hoping for a potential flat top breakout. Upon entry the stock ended up going against me and I didn't have a legitimate stop. Once I exited at previous support the stock consolidated a little bit and for some reason I still thought this stock had a chance to pop back up. I entered again and the stock went against me so I exited and took a big loss.
Considering that there was no setup, the market was in a downtrend, and the price of the stock was high, I shouldn't have entered this stock. But once I did, I should've put a tight stop during my first entry and left it alone after my loss.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-12-16 12:55:53 | BABA | buy | $107.170 | long |
| 2014-12-16 13:09:22 | BABA | sell | $106.770 | 0 |
| 2014-12-16 13:16:38 | BABA | buy | $106.740 | long |
| 2014-12-16 13:18:39 | BABA | sell | $106.450 | 0 |
Comments
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Agree. This is one you should have passed on to the long side.