Shared by
kumarBOWS
Broke my rules on this trade and paid for it.
1) No trades in the first 10 minutes
2) Stick with stops!
3) Don't add to a losing position unless starting in with a partial
4) After a sell off day the market tends to rally.. don't be so quick to short
Had I held a bit longer I could have taken it off for flat lol. This was just bad trading all around.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-04-04 09:31:00 | UNH | sell | $61.720 | short |
| 2013-04-04 09:40:00 | UNH | sell | $61.950 | short |
| 2013-04-04 09:42:00 | UNH | sell | $62.210 | short |
| 2013-04-04 10:21:00 | UNH | buy | $62.190 | 0 |
| 2013-04-04 10:33:00 | UNH | sell | $62.010 | short |
| 2013-04-04 10:36:00 | UNH | buy | $61.890 | 0 |
Comments
kumarBOWS
I was thinking it wanted to test yesterdays highs at around 62.70 so I held on for that. I figured that many large candles it was just a squeeze but if it busted through for new highs I would have just swallowed the loss. My initial stop was at 62.00 which is a great example of why some people should be using hard stops instead of mental stops ha,
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Out of curiosity, when were you planning to get out of the this if the price continued higher? This really looks like it could have turned into a disaster trade...yikes.