OPTT Trade on Jul 21, 2016 09:37 from MAllum_BOWS: Tradervue User Stock Trades.

Gravatar

Shared by
MAllum_BOWS

 

OPTT met half the criteria for a Swing trade. No Early entry criteria met though but I traded it because it was a momostock over the last few days.
Thought I got a good entry in the consolidation range but was expecting it to run up after the huge red candles. However the big red candles negated the previous green candle (engulfed i guess) and on the daily chart, OPTT open lower than the previous day's close and it had previously run up $7 so i guess it was a rubberband short.
Intraday i did Not honour my stop when i saw it move against me because I thought "its just a $10 stock!", even though that completely ignores all risk management & proper trading guidelines. As a result of my underestimating the stock (clearly despite a $7 move the previous day), I actually held beyond my stop and Waited for it to come back up because i also figured it had been so bullish so it must come back up. Then i got out all my shares.
So i did Not Take my small loss. I will NOT start this bad habit. I have rarely done this before. Small loss but Very Poor process.


Execution detail:

Date/time Symbol Side Price Position
2016-07-21 09:37:20 OPTT buy $13.060 long
2016-07-21 09:40:31 OPTT sell $12.930 0


Leave a comment about this trade!

You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes just a few seconds to sign up, and it's free!

View plans, Sign up for free, or Log in