After playing the bounce off the 200day well in my first trade of the day, I flipped short on this bear flag. I was reluctant to take any profits as the stock tested the 200sma again and this time the stock bounced hard off it. My second mistake was that I didn't put a stop loss on the trade and I took a hit 3x my risk per trade! Big mistake here, especially since my entry was pretty solid and I left profits on the table.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-05-15 10:01:52 | POST | sell | $42.310 | short |
2015-05-15 10:47:21 | POST | buy | $42.860 | 0 |
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