Shared by
James_BOWSsim
What a mess I made here today. I thought this stock would revert back to its mean when it gapped down at the open. Kept trying to long it and getting stopped out because it just faded at the open. Then I chased the unicorns and tried to short it, only to get stopped out again as it finally reverted to its MA's.
Finally it found resistance at the 20 EMA and I shorted it on my last play and actually scaled out of a nice trade. But getting stopped out of this one five times today really hurt my P&L. The important thing is to realize when a setup doesn't work and accept when I see an opposite trend developing. I seriously need to figure out why I kept on chasing and remounting time after time. I think mentally I was fixated on my own plan and wasn't willing to accept that my prediction/ plan wasn't going to happen. Have to learn to adapt with the charts and be more picky with my trades. Staying away from this stock for a while.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-01-20 09:35:50 | GOOG | buy | $690.180 | long |
| 2016-01-20 09:37:31 | GOOG | sell | $687.960 | 0 |
| 2016-01-20 09:45:17 | GOOG | buy | $689.960 | long |
| 2016-01-20 09:46:12 | GOOG | sell | $687.380 | 0 |
| 2016-01-20 09:47:18 | GOOG | buy | $688.960 | long |
| 2016-01-20 09:49:05 | GOOG | sell | $687.780 | 0 |
| 2016-01-20 10:10:48 | GOOG | sell | $684.860 | short |
| 2016-01-20 10:15:32 | GOOG | buy | $687.840 | 0 |
| 2016-01-20 10:17:40 | GOOG | sell | $687.260 | short |
| 2016-01-20 10:25:18 | GOOG | buy | $691.980 | 0 |
| 2016-01-20 10:26:33 | GOOG | sell | $690.390 | short |
| 2016-01-20 10:30:05 | GOOG | buy | $687.970 | 0 |
| 2016-01-20 10:33:21 | GOOG | sell | $687.190 | short |
| 2016-01-20 10:35:16 | GOOG | buy | $684.710 | short |
| 2016-01-20 10:37:40 | GOOG | buy | $682.670 | short |
| 2016-01-20 10:39:38 | GOOG | buy | $681.860 | 0 |
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