Followed by pure stubbornness and benting of my own rules.
A. Give yourself a proper chance to recoup
Keep Lossers in check
Be mindful of the losing positions and keep them in-check (filler - Tier 0 size), so that you can quickly recover from the loss. DO NOT ADD MORE SIZE on a) losing positions, b) trades that don't work as expected, c) when you feel the heat, under pressure, cornered.
a) For starters, I had no reason to revisit this trade as it never played out as expected per premarket plan.
b1) I re-entered short vs $119 resistance, immediately went against me and...I added more.
b2) I added another two times despite being under-pressure & cornered, knowing the squeeze it was about to come. And it did.
B. Stupid actions deserve and always yield (one way or another) stupid losses
The feeling of getting squeezed for a big loss only to see it back down 1sec later.
That put a gravestone in my day.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-02-03 11:10:26 | IBM | sell | $118.550 | short |
2021-02-03 11:10:26 | IBM | sell | $118.550 | short |
2021-02-03 11:22:38 | IBM | sell | $118.770 | short |
2021-02-03 11:39:49 | IBM | sell | $118.770 | short |
2021-02-03 11:48:08 | IBM | sell | $118.800 | short |
2021-02-03 11:48:08 | IBM | sell | $118.800 | short |
2021-02-03 11:53:59 | IBM | buy | $118.946 | short |
2021-02-03 11:53:59 | IBM | buy | $118.946 | short |
2021-02-03 11:53:59 | IBM | buy | $118.950 | 0 |
2021-02-03 12:02:46 | IBM | sell | $118.610 | short |
2021-02-03 12:03:19 | IBM | buy | $118.660 | short |
2021-02-03 12:03:19 | IBM | buy | $118.660 | short |
2021-02-03 12:03:19 | IBM | buy | $118.660 | short |
2021-02-03 12:03:19 | IBM | buy | $118.660 | 0 |
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