Shared by
OPTRADER18509
This was my biggest lost of the day. I tried to scale in for a HOD break and push to $5 and higher. My thesis was since it's low float and held support and broke pre-market HOD that it would squeeze trapping shorts. but I ended buying at the dead top, I got stuffed and gave back all my gains from my NIO trade and more. SO ANNOYING!!!!
What I did wrong:
-I bought at resistance instead of buying at support in a channel and selling into resistance.
-I went too big too soon before the setup proved itself and it was risky trade
What I will improve on:
-On those setups I will look to buy at support and sell at resistance or short at resistance and cover at support
-Before I take a trade I will ask myself what setup is this? Does it favor going long or short?
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2021-02-23 10:12:00 | CTIB | buy | $4.750 | long |
| 2021-02-23 10:12:00 | CTIB | buy | $4.750 | long |
| 2021-02-23 10:12:00 | CTIB | buy | $4.750 | long |
| 2021-02-23 10:12:00 | CTIB | buy | $4.755 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:14:00 | CTIB | sell | $4.500 | 0 |
| 2021-02-23 10:23:00 | CTIB | buy | $4.910 | long |
| 2021-02-23 10:24:00 | CTIB | buy | $4.929 | long |
| 2021-02-23 10:25:00 | CTIB | buy | $4.925 | long |
| 2021-02-23 10:29:00 | CTIB | buy | $4.739 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | long |
| 2021-02-23 10:31:00 | CTIB | sell | $4.500 | 0 |
| 2021-02-23 10:34:00 | CTIB | buy | $4.390 | long |
| 2021-02-23 10:34:00 | CTIB | buy | $4.390 | long |
| 2021-02-23 10:34:00 | CTIB | buy | $4.390 | long |
| 2021-02-23 10:34:00 | CTIB | buy | $4.400 | long |
| 2021-02-23 10:35:00 | CTIB | sell | $4.200 | 0 |
Comments
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would suggest also that you look at the context/ past performance of this name. It's a chinese turd running on no news / no catalyst and historically if you look on the daily, every time it gaps up we fade all day. not saying that you can't scalp it at specific spots, but to me longing a name that has at least a PR will generate better outcomes / more follow through to the upside over time.