Shared by
ramentrades
Shorted 100 shares $SN at $13.32
The goal was to anticipate a late day fade. It's been making lower highs when I got back from school. The plan was to add more when it cracks support and VWAP.
Used $13.40 (previous support) as a resistance/risk.
Added 50 shares more at $13.32 after it retested $13.40 and failed.
Added 200 shares at $13.26 when it cracks $13.30 support.
Now with 350 shares full size and new average $13.27. Using $13.30 as resistance/risk.
I got a little too patient and greedy. Should have covered into the washout. I covered with a loss instead at $13.31. The lesson of this trade was, do not be greedy and start watching for short entry around 2pm instead of right at the close.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-01-18 15:24:25 | SN | sell | $13.320 | short |
| 2017-01-18 15:32:11 | SN | sell | $13.321 | short |
| 2017-01-18 15:44:09 | SN | sell | $13.261 | short |
| 2017-01-18 15:56:05 | SN | buy | $13.308 | 0 |
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