*Idea: FF vs HODs and 100
*Entry: 98.125 (aimed for 99s)
*Risk: 1:3
Carryover from multiple fraud allegations on GSX.
It's GSX
Down substantially from squeezed highs last week, huge morning washouts from the 99s down to the 90s, squeezes back up and with fails vs the 99 level.
Rushed my entry, did the same stupid thing of taking an entry because somebody else did and convinced myself it was a good idea. Entered on fail vs 99, sized up on pop but due to slippage got a weaker entry and averaged around the 28.40s.
Had a chance to leave around the fail into the support at 97 where I expected it to fail again, but it didn't. Got squeezed out and broker stop hit at the squeeze at 101.
Always always always ask yourself what your edge is. You knew it was gone because it was consolidating.
Never forget that if a stock price is a large cap, all you have to do is divide the price by ten to get a sense of scale of comparable moves. A $0.10 move on a $10 stock is a $1.00 move on a $100 stock.
Stop ignoring trend changes. It's not doing what it's supposed to? Get out.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-08-12 10:56:09 | GSX | sell | $98.180 | short |
2020-08-12 11:29:24 | GSX | sell | $98.680 | short |
2020-08-12 11:58:01 | GSX | buy | $100.650 | 0 |
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