Day Chart: 4 fails at $1.86 area, 200dma also $1.86. 5 resistance points, potential for strong breakout.
Buy: got stopped out earlier, didnt believe in the remount although I was watching for it to happen. Then it shot straight to the upper range and during final few hrs. didnt want to miss out on break of day high after already breaking $1.86 area. FOMO and I felt the need to put some wins under my belt.
Sell: trailed stop by $0.01 under the highest bid after it got over the $2 mark. day was coming to an end and I was happy with any quick spikes (learned from previous ONTY trade today, that taking the spike for this stock was the best idea, it's not a long distance runner that just flags for short whiles. more like spike and sideways for half the day).
Lesson: fair trade, better entries were near the rising MAs had I had the patience (no FOMO). I see how feeling the pressure to build this account is affecting a lot of my trades lately, including missing the obvious ones. Should focus on trading psychology a bit more, on top of continuing with my pattern recognition and repetition. One trade at a time, man.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-05-14 14:43:00 | ONTY | buy | $1.970 | long |
2015-05-14 15:49:00 | ONTY | sell | $2.020 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!