oh man this trade hurt! I was risking $10 but because of slippage could only get out for a $20 dollar loss.
This stocks is in the dumps at the moment, but it had a strong first green day yesterday so I was looking for continuation. After the open, I was looking to buy the open reclaim which normally gives good R:R. Unfortunately I bought a bit earlier to get a better average, however we never broke through the open price.
After that I just held and was hoping (WHICH IS NOT A STRATEGY!!!). I should have cut my losses. The stocks was then forming a bearish triangle pattern but I was stubborb and wanted to wait for my risk level to break.
Once my level broke, there was panic and I could not get out. I manage to get a most of my position out right at the bottom. Literally it then bounced to my risk level. Urgh
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-03-31 09:32:16 | CYDY | buy | $2.950 | long |
2021-03-31 10:00:51 | CYDY | sell | $2.780 | long |
2021-03-31 10:01:33 | CYDY | sell | $2.711 | 0 |
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