Entered short because it looked like TSM might put in a 5min 20ma cup to the downside, to ignite a downward move, but unfortunately didn't happen. Scaled into the upward push in order to trade out of my position... This is playing with fire, and will ultimately burn my ass. Trading this way is a bad habit, at least until I figure out how to properly set a stop on these trades.
Was on the lookout for the anticipated reversal entry signal for TSM, since it's due for a trend reversal after it's recent breakout.
Scaled into a position, that traded against me, in order to trade out of it. Eventually this is going to bite me in the ass; it always does.
Should have been out of this trade as soon as I saw the 1min 20ma cup to the upside at $82.15. This would have positioned me to re-hit it at $82.75 once it failed to punch through.
Expecting a decent reversal in next day or two.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-07-27 13:19:50 | TSM | sell | $82.062 | short |
2020-07-27 13:23:24 | TSM | sell | $82.272 | short |
2020-07-27 13:35:01 | TSM | sell | $82.512 | short |
2020-07-27 13:55:59 | TSM | sell | $82.740 | short |
2020-07-27 13:57:29 | TSM | buy | $82.310 | short |
2020-07-27 13:57:29 | TSM | buy | $82.310 | short |
2020-07-27 13:57:29 | TSM | buy | $82.310 | short |
2020-07-27 13:57:56 | TSM | buy | $82.310 | short |
2020-07-27 13:57:56 | TSM | buy | $82.310 | short |
2020-07-27 13:57:56 | TSM | buy | $82.310 | 0 |
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