Although I took a huge rip on this trade I actually don't hate it. I took my time to develop an
It was a good experience though. In the past, just seeing that huge red blemish in my account used to get my heart racing and cause me to do dumb things, like over trade, revenge trade, close out of everything, even winners, etc. etc. In this trade, emotional less... just a part of trading.
There still might be a chance to get back into this trade, for example if it pulls back further but makes a higher pivot low or if it breaks through the recent pivot high of 197.50~. This won't be completely off my radar but I'm done with this trade for now.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-05-10 11:32:50 | CF | buy | $193.065 | long |
2013-05-10 14:45:29 | CF | buy | $194.089 | long |
2013-05-15 14:43:33 | CF | sell | $189.520 | long |
2013-05-15 14:43:33 | CF | sell | $189.600 | long |
2013-05-15 14:43:33 | CF | sell | $189.520 | long |
2013-05-15 14:43:33 | CF | sell | $189.520 | 0 |
This was my failed attempt at an Inverted Head and Shoulders. Lots of emphasis on the failed!
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Looks like you bought this a bit too high. Entry was probably better on the daily flag break around $185-186. Most of the easy money was gone at the point you entered