1. The idea behind this one was an overextended flush to the downside which was pretty rapid
a. It went from ~.49 to .05 which was opportunity for a quick dip scalp
2. Risk - I wanted to get filled near the bid but forgot to use my dip hotkey so I got filled at 11.3 This increased my risk to .30 which was more than I wanted. Therefore I tried cutting fast
a. Reward - break above .5
3. Took 1/3 my BP as dips are not one of my strong suits right now and it was a relatively expensive stock --> 1/4 was too small given commissions
4. Managed this poor entry bc of spread issues by selling half fast into profit .13 profit - tried cutting the rest at .35 which is what I saw on the bid at my end at the time but my internet is horrible here so the lag put me at .16.
5. My final exit was perceived correctly on my end - a breakeven one - but the lag got me
a. I learned to make sure I execute dips correctly via hotkeys bc they are not worth it if you get filled on the ask with sizable spreads
b. Internet connection will screw you so don’t trade live unless there is a sound connection.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-02-23 10:58:47 | ZKIN | buy | $11.300 | long |
2021-02-23 10:58:58 | ZKIN | sell | $11.430 | long |
2021-02-23 10:59:04 | ZKIN | sell | $11.160 | 0 |
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