I was trying to catch the bottom and then let it spike but it didn't pan out.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-11-04 11:03:15 | IMPV | buy | $71.090 | long |
2015-11-04 11:03:15 | IMPV | buy | $71.080 | long |
2015-11-04 11:28:23 | IMPV | sell | $71.092 | long |
2015-11-04 11:28:23 | IMPV | sell | $71.055 | 0 |
Yeah you're right I've already weathered the storm and should have noticed that the sell off was exhausted. Patience is something I need to work on.
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Not sure why you got out after taking .60 cents of heat. Either your stop was too low or you didn't have conviction in the trade. In my style of trading, which is obviously just one style, I'd have stopped out at previous day low but reentered on 1-2-3 setup around 71.20 just before 1:00PM. Not just due to hindsight, but because you have to be able to name the pattern before entering.