WIN

• Setup: PR Breakout
• Entry: $13.78
• Shares: 750
• Stop: $13.69
• T1: $14.00
• T2: $14.50
• Reward:Risk Ratio (T1): 2.44:1
• Exit: $14.05/$14.26

• Profit/(Loss) With Commission: $314.00

• Details: This was a PR breakout to new highs (I believe they got FDA approval for a drug). In the morning it was trading premarket between $13.50 and $13.75so I actually made the mistake of shorting it at $13.49 as it looked like it was going to fill the gap. I didn't think that trade through and lost over $230 in a matter of seconds, so I quickly reversed my position, buying 1500 shares (750 to cover my short and 750 to go long). Since it broke out so quickly and made my money back almost instantly I sold way too fast. Had I played this correctly I would have nailed a $3000 gain but I panicked after losing so much so quickly and just wanted to make my money back and get out. If I hadn't had premarket trading shown on the chart the break of the $13.50 level wouldn't have looked like a short to me, so I have made a mental note to always consider whether or not a breakout is valid based on the premarket action. Overall with my losing trade right before this one I think I made only $60-70 on this trade.