FOMO got the best of me on this trade. I had a great entry at $7.56 on a support trendline break. My 7.31 and 7.01. As the price began to move in my direction, I became fearful of the stock turning around and stopping me out for a loss. As a result, I took 1st profits at +.09 which is lame. To make up for that, I planned to take profits on the next piece in the 7.20s to make up for the early sell...FOMO kicked in again and I took profits at $7.33. As price consolidated in a tight range and appeared to be breaking down, I reshorted my covers and took profits again +.07 later. On my final shares, I stopped myself out as it appeared to be curling back over the MAs. Had I simply used the MA as a guide and not a buy/sell signal, I wouldve remained in the trade and hit my target .21 lower. Moral of the story is to trust the plan and let the plan work.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-12-14 11:35:59 | ENT | sell | $7.565 | short |
2016-12-14 12:20:32 | ENT | buy | $7.470 | short |
2016-12-14 12:34:31 | ENT | buy | $7.330 | short |
2016-12-14 13:04:12 | ENT | sell | $7.280 | short |
2016-12-14 13:34:25 | ENT | buy | $7.210 | short |
2016-12-14 14:19:23 | ENT | buy | $7.230 | 0 |
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