Shared by
CapitalMastery
Summary
I was originally planning to short ROKU in pre-market in order to catch the anticipated opening sell-off, but surprisingly it shot up right out of the gate. I ended up shorting reactively on the opening candle before I realized it was going straight up, and was immediately on the defensive, trying to fight my way out of this trade. Ended up minimizing this trade the best I could and open a parallel long position to help balance things out. Overall, was able to cut the loss to about -$57
Did Right
- Quickly realized I was in hot water, and began damage control
Did Wrong
- Should not be shorting stocks in pre-market or opening candle before price action has had a chance to confirm my thesis/setup.
Improvements
- Don't open any positions without price action confirmation my thesis, but specifically on regarding this trade, don't short on open anymore. Just wait.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-07-10 09:30:17 | ROKU | sell | $147.680 | short |
| 2020-07-10 09:32:33 | ROKU | sell | $150.839 | short |
| 2020-07-10 09:33:09 | ROKU | sell | $150.628 | short |
| 2020-07-10 09:34:51 | ROKU | sell | $151.090 | short |
| 2020-07-10 09:37:43 | ROKU | sell | $152.390 | short |
| 2020-07-10 09:40:51 | ROKU | sell | $153.986 | short |
| 2020-07-10 09:46:47 | ROKU | buy | $152.870 | short |
| 2020-07-10 09:47:00 | ROKU | buy | $152.802 | short |
| 2020-07-10 09:48:58 | ROKU | buy | $151.744 | short |
| 2020-07-10 09:50:00 | ROKU | buy | $152.125 | 0 |
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