Bought this for a break of VWAP setup after a strong red to green. It did break nicely for a couple dollars and a nice profit, but I was too concerned with an open position in another trade to manage this one properly and although I threw out a sell order on the ask, the volume was too light for it to fill, and I didn't sell any on the bid because I was busy with another trade and it pulled back quickly and sharply.
I wound up holding it too long and then averaging down (usually always a bad idea), and then failing to utilize this strategy to minimize loss when it popped back up to my average price by NOT SELLING on the bid (AGAIN) because I wanted to profit off this trade rather than break even. This stubbornness resulted in me losing a chunk of my profits for the day. Stubbornness rarely pays and in this case it cost me about a third of my daily profit.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-09-23 09:31:17 | ARQQ | buy | $38.750 | long |
2021-09-23 09:35:30 | ARQQ | buy | $37.270 | long |
2021-09-23 09:52:23 | ARQQ | sell | $37.130 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!