A very stupid trade. The loss on this did NOT have to be as great as it was, but I was stubborn with taking a loss. From opening bell, PENN was in a downward channel from 9:30 until 10:50, where the price broke above the upper resistance line and continued higher. After my entry, my stop should have been a new 5 minute high when the break below 52(my entry) failed to continue lower, or at most VWAP (52.50). Then I could have flipped my trade and profited long.
Moron. Do better next time.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-08-13 10:15:49 | PENN | sell | $51.820 | short |
2020-08-13 11:32:04 | PENN | buy | $53.700 | 0 |
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