Failed opening range breakdown. This one was playing jump rope with my P&L all morning and I should have just cut the trade at breakeven after it wasnt getting any immediate selling pressure. I think these opening range breakdowns need to start going almost right away or I will start cutting them and have a mental time stop ready for them. In this case I was thinking about cutting the trade many times and them it would look like it wanted to breakdown so I wouldnt. Next time just going to cut the trade and then put it on again if it sets up later instead of loosing $50 like right here.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-11-30 09:41:34 | ZUMZ | sell | $18.720 | short |
2012-11-30 10:15:32 | ZUMZ | buy | $19.061 | 0 |
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