Strategy:
Breakout
Mistake(s):
1. Didn't set stop or sell fast enough when the trade reversed on me.
2. Didn't have risk/reward planned out.
3. Forced this trade just to get action as the day was about to end.
Thoughts:
1. I believed that with the volume coming in and how hot the markets were closing that we could see previous highs from February.
2. A better entry would have been H&S pattern broke around $8.60 giving me more upside and more room to maneuver should the trade reverse to the downside.
3. BE PATIENT. DON'T FORCE ACTION SIMPLY BECAUSE THE DAY IS ENDING!!!
At the time, I was up on the day about $4K on the day and this gave back a hefty amount that could have completely been avoided.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-17 15:42:18 | SINO | buy | $8.740 | long |
2021-03-17 15:42:44 | SINO | buy | $8.760 | long |
2021-03-17 16:02:34 | SINO | sell | $8.130 | 0 |
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