I was looking for a falling angel/ reversal play here but it just never came. I definitely entered too quickly on the first trade. I think the second entry was okay, given that it arced back up a little, but I should have held a tighter stop loss since it ended up being a false reversal and I ate a nasty $0.40/share loss.
At the end of the day though, it's all probabilities. I was in the wrong stock and my assumptions of the price direction were wrong but I cut my losses and moved on and still ended up green on the day from my other trades.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-22 09:32:25 | CLPS | buy | $4.630 | long |
2021-01-22 09:33:20 | CLPS | sell | $4.430 | 0 |
2021-01-22 09:42:42 | CLPS | buy | $4.340 | long |
2021-01-22 09:44:42 | CLPS | sell | $3.910 | 0 |
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