Shared by:
rsteckly
Macro situation: neutral.
So VRX traded up 10% ahead of its earnings. It beat those earnings but it was a sell the news event.
Looking at the 15 minute chart, I could see that and my bias was to short.
However, I got rattled when I saw what I thought was an ORB setup. I saw it breaking out of the ORB, got nervous about what was happening and longed it--even though my bias was to the short side at the open.
And I paid the price, taking a bigger loss than I expected.
Always pay attention to your first read on a situation BEFORE taking a position. Once you're in the position, your mind plays tricks on you.
Execution detail:
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