This stock was straight up tanking from the opening since it had gapped up huge straight into resistance. I noticed that it was going straight for the 200 DMA so I waited until it did so in anticipation of buying the bounce. My first buy was too far from the 200 DMA but I add another lot of shares once it physically touched the 200 DMA. My plan was to sell into the 9 ema on the 2 minute time-frame which was at $66 but since the stock bounced so quickly and in such volatile manner, I sort of panicked and sold for about a ~30 cent gain. It went way past this sell price and hit my 9 ema target anyway. I think the issue here was that I didn't factor in the volatility of this stock when choosing the number of shares to buy. Next time, I should lower the number of shares to buy in order to limit volatility and my risk to ensure a cool head during the trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-07-13 10:07:01 | MWE | buy | $65.610 | long |
2015-07-13 10:08:20 | MWE | buy | $65.080 | long |
2015-07-13 10:09:21 | MWE | sell | $65.630 | long |
2015-07-13 10:09:28 | MWE | sell | $65.650 | 0 |
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