The stock was consolidating nicely on the 15m chart and appeared to be forming a flag. I started in at $27.40 just to test the waters and then screwed up the trade when I added at $28.26. I had the right idea and it ended up playing out but I wasn't patient and didn't wait for the setup to appear. This is a great lesson in being patient and avoiding FOMO. Had I waited for the tighter consolidation around 10-10:30AM at the $27.60ish level, I would have been in this trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-10-16 09:33:03 | FPRX | buy | $27.400 | long |
2015-10-16 09:34:02 | FPRX | buy | $28.260 | long |
2015-10-16 09:36:01 | FPRX | buy | $28.000 | long |
2015-10-16 09:41:23 | FPRX | sell | $27.680 | 0 |
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