Shared by
Driver42_BOWS
Messed up big on this trade.
Daily has a support trendline at about 19.85 and I shorted it at the 5min 20ma on a short term trendline just above the price at 19.9.
I set my stop at 20.02 as the price had hit 20 a few times just after the open.
After watching the price hit 20 again after breaking the trendline I should have exited but chose not to as that price level may have held again.
When the price shot up through there I then realised that my stop was only for 100 not the 400 I had shorted.
I had to get out at 20.18, a much bigger loss than I had anticipated.
I should have paid more attention to the daily chart.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-04-20 10:10:21 | SCMP | sell | $19.870 | short |
| 2015-04-20 10:10:21 | SCMP | sell | $19.870 | short |
| 2015-04-20 10:11:20 | SCMP | sell | $19.920 | short |
| 2015-04-20 10:12:00 | SCMP | sell | $19.920 | short |
| 2015-04-20 11:16:20 | SCMP | buy | $20.070 | short |
| 2015-04-20 11:18:20 | SCMP | buy | $20.180 | short |
| 2015-04-20 11:18:20 | SCMP | buy | $20.180 | short |
| 2015-04-20 11:18:36 | SCMP | buy | $20.180 | 0 |
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