I was dead wrong on this trade. My trade idea was for a continued drop down to $21 even though the giant volume bars hinted at a possible reversal to the upside.
My initial entry was a too aggressive only $.10 above the low of the day. The second I saw it putting in a higher low I should've covered my position.
On top of that, I added to a losing position. And my add was a chase. Then when the price continued to grind up with higher lows, I got scared and covered emotionally at the peak.
Not a trade to be proud about at all. A good example of everything not to do in trading.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-02-01 09:57:17 | TEX | sell | $21.660 | short |
2016-02-01 10:16:40 | TEX | sell | $22.200 | short |
2016-02-01 10:31:21 | TEX | buy | $22.370 | short |
2016-02-01 10:31:21 | TEX | buy | $22.370 | 0 |
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