Shared by
RPB3
For the first trade, the plan going in was to buy the ORB on the gap and run. Bought the second candle on the 5.50 and ORB break. Ended up being a fake out and pulling very hard. On this type of play I need to use way less size. My stop should have been below the day low. It moved way to fast and wasn't much I could do. Overall very bad risk management here.
For the second trade, the stock based out and consolidated trapping a lot of shorts. Once it broke out of the flag it was going to have a powerful squeeze. Wanted to lock in some profit so sold the first half. Got nervous with the second half and took it off.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-08-25 09:31:06 | NYMX | buy | $5.500 | long |
| 2016-08-25 09:31:59 | NYMX | sell | $5.000 | 0 |
| 2016-08-25 09:38:12 | NYMX | buy | $5.250 | long |
| 2016-08-25 09:41:32 | NYMX | sell | $5.400 | long |
| 2016-08-25 09:42:23 | NYMX | sell | $5.460 | 0 |
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