SPY Trade on Aug 25, 2015 11:59 from ToqueX: Tradervue User Stock Trades.

Grade=C-

The setup: bear flag

The result: Normally, I would have gotten myself out of this trade earlier, but I wanted to experiment a little if I thought the idea was still valid. I added to the short at the top of the range, wit an eye to cover some at the bottom of the range and hold on for a breakdown with the rest. I got impatient with it. I was also quite tired and had to go to bed, so I bailed with a small gain.

The lesson: I could have set a trailing stop and a hard stop together and automated the exit. A .50 trailing stop would have been perfect here. I could have gauged that by the width of the range up the the point I sold. A psychological factor here is that I wasn't having a great day, and wasn't coming from a position of strength to make a decision like that. I wanted the guaranteed small gain over the potential larger gain.