RRC Trade on Dec 19, 2014 10:48 from youngcb1_BOWS: Tradervue User Stock Trades.

Dead cat bounce was occurring. I anticipated resistance way to early and bought shares. It began to break upwards even higher so I covered my position. I then sold some more shares after my cover because I thought that the stock hit resistance, but it was still too early. I had to cover again. When the next candle went red I sold some mores shares and that's when the stock started to finally trend down. I covered half my shares as it started to hit support near $58. Then I completely messed up and assumed that the stock was going to drop a lot lower. It hit support at $57.60 and that's where I should've covered the rest of my shares. But I didn't. The stock began to consolidate and the MA's started to flatten out before curling up. That was my signal to get out but I still didn't cover. As the stock broke over MA's and began to uptrend I allowed it to get way to close to my initial entry point before exiting. I was trying wait for a pullback but the stock went higher and higher which got me in trouble. Eventually I covered the rest of my shares.

I lost $100+ profit on this trade for making a bad decision by holding after multiple indications that this stock was developing an uptrend. I played this stock poorly all because I expected to continue to drop a lot lower than 57.60.