Macro situation:
SPY and the indices seemed neutral--trading in a range. So I just focused on setups without a bias.
My thinking here was that it had gapped up, had some strong volume in the beginning. Then I saw it fade, cross over the VWAP and EMAs, but remount.
I don't really understand ZFGN's price action. I needed to do more research on what was happening in the stock. I'm realizing more and more you need to be able to understand the market structure and incentives of the participants of a particular stock to have 'edge'. The problem here is that I didn't really understand what was driving the situation.
So I longed the remount. What could have told me the remount was going to fail?
VOLUME. There was none. This was taking a trade to trade, not pursuing a great opportunity.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-10-19 12:01:18 | ZFGN | buy | $11.380 | long |
2015-10-19 12:01:18 | ZFGN | buy | $11.380 | long |
2015-10-19 12:01:18 | ZFGN | buy | $11.380 | long |
2015-10-19 12:01:19 | ZFGN | buy | $11.400 | long |
2015-10-19 12:01:19 | ZFGN | buy | $11.400 | long |
2015-10-19 12:01:19 | ZFGN | buy | $11.400 | long |
2015-10-19 12:01:19 | ZFGN | buy | $11.420 | long |
2015-10-19 12:01:19 | ZFGN | buy | $11.380 | long |
2015-10-19 12:01:19 | ZFGN | buy | $11.380 | long |
2015-10-19 12:01:19 | ZFGN | buy | $11.380 | long |
2015-10-19 12:01:19 | ZFGN | buy | $11.400 | long |
2015-10-19 12:01:19 | ZFGN | buy | $11.390 | long |
2015-10-19 12:07:06 | ZFGN | sell | $11.250 | 0 |
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