The profit looks good but this was a bad trade that luckily went my way.
I shorted this on a bear flag, then watched as it broke the trend line and popped over the 20ma.
I should have exited it then, but I stubbornly held on as there was more resistance on both the 15 and 30min charts.
Just as I decided to exit for twice my normal stop loss I accidentally shorted it again instead of covering it.
Straight away the price dropped on me so I put a stop for it all immediately above the top of the move.
I stupidly didn't take profit when it came back to my initial entry point and I watched it go back up almost to stop me out.
The I got a relief drop and booked some nice profit.
A badly managed trade, where I violated my stop and stubbornly refused to take profit after it was handed to me on a plate. I was very lucky with this trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-03-31 12:34:00 | KITE | sell | $58.330 | short |
2015-03-31 13:35:00 | KITE | sell | $58.860 | short |
2015-03-31 15:14:00 | KITE | buy | $58.150 | short |
2015-03-31 15:16:00 | KITE | buy | $58.050 | short |
2015-03-31 15:30:00 | KITE | buy | $57.670 | 0 |
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