Day Chart: broke downtrendline after bouncing off support yesterday.
Buy: bought the break of the morning high, anticipating break of $50 level and running after multiple attempts. very weak entry after missing a few attempts lower. better entry was after it held low of day, then flagged for about an entry at 49.60 area.
Sell: it actually got to $50.20 but I was talking myself into not being a fat cat and letting the stock work its way higher, seeing how the daily looked good over $50 level. One monster candle flushed from $50.20 to $49.66. I had a stop at $40.90 but took it off to change my ticket to a regular sell order. That exposure actually cost me due to the speed of the flush.
Lesson: unless I'm ready to trigger a sell order, leave the protective stop order open in case of mad flushes. Anything can happen, that's the rule. A more aggressive entry probably would have had me selling an auto stop at the failure to hold $50 as part of a strategy to be happy with decent gains until acct is built up more.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-05-13 10:23:00 | GPRO | buy | $49.980 | long |
2015-05-13 11:01:00 | GPRO | sell | $49.600 | 0 |
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