Fought for price well at an area that was rejected 2x already before today and was yesterdays high: so an important level. My entry was great and my stop was tight. The name broke through and I got a great fill on the way out, only losing $5.
Usually, I'd freak out and exit the second I saw resistance broken, while momentum was hot. This IV boost would give me a not so great fill. Instead I waited for that level to calmly hold, and then got out.
I'm not saying this is a great thing, sometimes a ticker will rip through and keep it's upward momentum. But here, I was more patient and emotionally controlled. Time and more experience will tell which is a better strategy: 1) Exit as soon as resistance is broken or 2)Wait for confirmation to avoid a fakeout
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-09-17 10:52:50 | 18 SEP 20 53 PUT | buy | $1.450 | long |
2020-09-17 10:59:05 | 18 SEP 20 53 PUT | sell | $1.400 | 0 |
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