Shorted a support breakdown at $15.02. The stock had tapped $15.00 multiple times on the daily and this was the third tap of it on the intraday while also making lower highs. I should have hammered this trade with 1K shares but because I was annoyed by losing on HNT earlier than morning I simply wanted to make my money back with minimal risk. Great trade overall, but I should have treated it as an individual trade instead of letting it be influenced by a losing trade earlier that morning. I did end up making my money back and finishing the day flat, but had I treated this one individually it could have been a $500 trade instead of a $100 trade.
One other thing to note is that this was another short in a strong market, which lowered the probability. Need to remember to try not to do that unless it is an extremely high probability trade (this one was, so it was ok).
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-08-03 10:45:22 | IMGN | sell | $15.020 | short |
2012-08-03 11:33:31 | IMGN | buy | $14.870 | short |
2012-08-03 11:40:19 | IMGN | buy | $14.720 | short |
2012-08-03 13:08:50 | IMGN | buy | $14.070 | 0 |
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