Shared by
cash7177_BOWS
This is the trade in which discipline comes into play.. and I had none.. took PTBI in a flag pattern setup. Had all of its MAS stacked nicely under. I literally said to myself, this setup is so nice im not even going to set a stop....WRONG... stock crashed, then I HOPED (hoping is for losers in this game) that it would go back up and it crashed harder. I had a good setup, not a bad entry. Set up simply did not work. but should have set the stop for when the trade became invalid.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-05-20 10:14:03 | PTBI | buy | $10.580 | long |
| 2015-05-20 10:14:03 | PTBI | buy | $10.580 | long |
| 2015-05-20 10:19:12 | PTBI | sell | $10.350 | long |
| 2015-05-20 10:19:12 | PTBI | sell | $10.342 | 0 |
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10.8 was resistance.. notice the double top there. when it failed to break you had to get out.. you played it perfectly.