I originally had a short bias on LNKD as it gets closer to that 170 level off the Daily. I decided to see what happens when it first pulls back during the morning. I got into my first feeler position as LNKD was approaching the MA's with a stop above 175.50. It started to work out so I decided to add another 200 shares. As I was adjusting my previous stop, I must have accidentally changed it from Stop Market to Limit because I was out of the trade. That's my fault for trading on the iPad.
This made me pretty upset and I knew what was going to happen next... I almost did a revenge trade and was tempted to hit the bids at 174.00 with a ridiculous amount of size but instead I stopped myself and walked away for about 5-10 minutes to clear my mind. I was lucky to have caught this because it could have been bad.
When I got to my desk I noticed LNKD was approaching the MA's again for a second test, this time making a slightly lower high. I calmly took that trade. It didn't really do much after that so there wasn't much to do at this point. I got out when it broke the downtrend line.
This trade is significant to me because I was able to catch myself before I took a revenge trade. It's been awhile since I traded off of emotion and I was on the brink of that this morning.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-05-24 10:37:16 | LNKD | sell | $174.491 | short |
2013-05-24 10:37:16 | LNKD | sell | $174.480 | short |
2013-05-24 10:54:31 | LNKD | sell | $174.300 | short |
2013-05-24 10:54:31 | LNKD | sell | $174.300 | short |
2013-05-24 10:54:43 | LNKD | buy | $174.378 | 0 |
2013-05-24 11:06:14 | LNKD | sell | $174.500 | short |
2013-05-24 11:06:14 | LNKD | sell | $174.500 | short |
2013-05-24 11:06:14 | LNKD | sell | $174.500 | short |
2013-05-24 11:06:14 | LNKD | sell | $174.500 | short |
2013-05-24 11:06:14 | LNKD | sell | $174.500 | short |
2013-05-24 11:06:14 | LNKD | sell | $174.500 | short |
2013-05-24 11:06:14 | LNKD | sell | $174.500 | short |
2013-05-24 15:24:06 | LNKD | buy | $173.369 | short |
2013-05-24 15:24:06 | LNKD | buy | $173.360 | 0 |
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