Rubberband short on the daily. This stock ran up so much that I just knew it was gonna snapback to the short side. On this assumption, I entered the stock on the second candle on emotion. Price ended up pulling back over a dollar above my entry causing me to reach my daily max loss. I exited to prevent increasing my loss. As soon as I got out of the position the bear flag broke down. sucks but you live and you learn.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-01-12 09:36:00 | MYOS | sell | $4.400 | short |
2017-01-12 09:53:00 | MYOS | buy | $5.560 | 0 |
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