Based on it's frequent halts and bullish volatility from yesterday and price surge on the final 5min bar before open which settled at it's $14 support line after peaking at $14.50, it looked to be a safe instant-buy upon open. Entry was a touch higher than I would have liked but figured it better to get it at market rather than a fixed price closer to $14 as the risk of missing out entirely was high.
Should have stuck with my $1.00 exit but was a little sleepy in the head this morning and couldn't muster the mettle to stick to my convictions so I exited at the high vwap instead. Had a $17.00 likely opening high on my pre-market charting that I also should have better considered but given the wild volatility from yesterday I was skittish to push. Disappointing that it shot up so much and my entry was damn near perfect but caution is always best.
The big take-away is that on ultra bullish days like today I should rely more on my instincts rather than taking a more calculative approach - which is more ideal for average to bearish days - as I watched probably a dozen terrific entry points come and go that my calculative mindset didn't let me act on. Lesson learned.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-09-08 09:30:05 | ARQQ | buy | $14.200 | long |
2021-09-08 09:30:13 | ARQQ | sell | $14.821 | 0 |
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