MELA Trade on Mar 11, 2015 09:36 from EliBrown: Tradervue User Stock Trades.

I got destroyed by this stock today. I went long 500 shares at 3.80. Big mistake. The stock had been grinding up slowly during the pre-market on a PR. I didn't give it anytime to form some type of pullback or consolidation before entering. I had a stop at 3.65 but kept trailing it lower because I was "certain" it would breakout. When one starts hoping or expecting something from a trade, it almost always goes badly. I finally got out at 3.56 for a substantial loss. I got suckered in going long again as it bounced off the 20 EMA. I entered another 500 shares at 3.62, chasing my entry way to high on what should have been a short if anything. I was not thinking here. I had a stop at 3.40 but exited at 3.46 upon realizing the stupidity of this trade.